Canadian Forest Products Industry Plans $2.9 Billion in Project Investments
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Investments by the Canadian forest products industry in individual projects range in value from $500,000 to $360 million, and have an aggregate value of just more than $2.9 billion, according to Industrial Info Resources, Sugar Land, Texas, USA, which is currently tracking more than 65 major forest products capital and maintenance projects across Canada. The wood products manufacturing sector has only 10 projects worth $140 million, while the remaining activity will take place at pulp and paper mill sites.
Projects are scheduled to be completed as early as last month (October) and as late as July 2014. Construction is under way on 12 projects that tally up to $673 million, including a $200 million investment to restart a mill in Alberta.
In contrast, current spending activity in the U.S. shows more than 380 projects that have a combined investment value of more than $5.4 billion.
From a geographical standpoint, British Columbia ranks the highest in terms of project counts and the combined value of expenditures, with 34 projects worth $990 million. Ontario and Quebec round out the top three provinces, with 14 projects and nine projects worth $548 million and $777 million, respectively.
More than half of all planned project activity has a power or energy component tied to it. There are 32 projects that combine for $1.8 billion in expenditures that are designed toward adding new boilers, steam turbines and power plants, or major rebuilds and maintenance to those units. Plans to add new electrical generating units will result in nearly 500 MW of electricity that will be used for plant operations or sold to the national grid.
According to Industrial Info's Online Plant Database, the Pulp Paper & Wood Industry has more than 500 major manufacturing plants in Canada that are listed as operational. Additionally, Industrial Info is tracking more than 917 active projects worth more than $65 billion in the pulp and paper Industry worldwide.
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