Nearly $12 billion in chemical processing industry (CPI) projects are expected to start in 2013 in the U.S. Gulf Coast states, with Texas and Louisiana leading the way, according to industry research firm Industrial Info Resources (IIR).
The number includes 174 capital projects valued at approximately $10.96 billion and 311 maintenance projects valued at $984 billion. While there will be some project fallout, the number represents a high amount of planned CPI project activity, IIR says.
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Texas and Louisiana strongly lead the region in terms of the number and value of projects. Texas has approximately 250 chemical processing industry projects planned to kick off this year, with a total investment value of $7.26 billion, while Louisiana is planning about 140 projects with a total investment value of about $4.2 billion.
CPI includes major processing plants for organic and inorganic chemicals, industrial gases, petrochemical complexes, plastics producers, paints and pigments, coatings, and detergent manufacturers. IIR's project research is derived from a database of 3,900 North American plants and includes tracking grassroot construction, expansions, unit additions, as well as a more concentrated focus on turnaround activity in the ethylene market.