August 24, 2006

B.C. projects hit record

VANCOUVER

B.C.’s hot economy continues to fuel record levels of construction, says the quarterly Major Projects Inventory, which shows the value of projects heading towards the $100-billion mark for the first time.

A record 769 major capital projects worth nearly $101.9 billion were planned or under construction in B.C. between April and June 2006, marking an eight per cent increase in the number of major projects reported in the inventory since the last publication in March, and an increase of approximately 23 per cent over a year ago.

Vancouver Regional Construction Association president Keith Sashaw said the inventory is a useful planning tool for the industry.

Twenty major projects started construction in B.C. during the second quarter of 2006, valued at $1.8 billion.

In addition, the inventory reported 71 new, major projects for the first time during the April to June period, totalling more than $5.4 billion in potential new capital investment, if all of the projects proceed.

The inventory includes projects with a capital cost of at least $20 million within the Lower Mainland and projects valued at $15 million or more in the rest of B.C.

CANADIAN PRESS

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