Captial and maintenance spending for Canadian chemical processing industry remains stable despite project delays
Sugar Land, Texas -- An estimated $150 million in capital projects originally planned by chemical plant owners in C...
Sugar Land, Texas — An estimated $150 million in capital projects originally planned by chemical plant owners in Canada have been delayed until 2007, according to Industrial Info Resources (IIR), a marketing information service. Another $28 million in capital and maintenance projects have been cancelled or indefinitely put on hold.
Despite these set backs, the chemical processing industry (CPI) of Canada is still on course to realize nearly $272 million in total capital and maintenance spending during 2006 from an estimated 50 projects. This equals a decrease in total spending activity compared to capital and maintenance spending for 2005 of nearly 25%. The continued optimism of potential riches from the exploration of Western Canada’s oil sands and abundant access to natural gas will likely play a key role in sustaining the CPI’s long-term success in the region.
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