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VICTORIA
– The number of total major projects
in B.C. has increased for the nineteenth straight quarter, said Economic
Development Minister Colin Hansen today with the release of the Major Projects
Inventory first quarter results.
“The Major Projects Inventory, which tracks the growth in
the number of large scale construction projects in B.C., shows a continued high
level of investor confidence,” said Hansen.
“In particular, confidence in the regions is strong - for example,
activity in the number of projects planned or underway in the Thompson/Okanagan
region has increased by 95 per cent since March 2005.”
According to the Major
Projects Inventory, March 2008 edition:
·
Eight hundred and
fifty-eight major capital projects, worth an estimated record $163.2 billion
were planned or underway in B.C. between January and March 2008.
·
This is an increase of
seven per cent in the number of major capital projects and an increase of 31
per cent in estimated value from this time last year, when there was 804 major
capital projects planned or underway worth an estimated $124.2 billion.
·
This is a significant
increase from March 2005, when there were 572 projects planned or underway worth
an estimated $68.1 billion.
·
The capital cost of all
major projects listed under construction in B.C. is estimated at $61 billion,
up from $57.4 billion in the fourth quarter of 2007.
· Twenty-six major projects started construction in
the first quarter, valued at approximately $3.4 billion, two of the largest
being the Dokie Wind Farm project near Chetwynd in the Northeast Region and the
Lakestone Resort Development in Lake Country, Okanagan Region.
·
Twenty-seven projects
completed construction in the first quarter valued at $1.2 billion. The
Starlight Casino development in New Westminster and a Hotel, Convention and
Gaming Centre in Fort St. John are the largest projects to complete
construction this quarter.
Published quarterly by the
Ministry of Economic Development, the Major Projects Inventory lists all major
projects that are proposed, planned and underway in the province. 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. The March edition of the
Major Projects Inventory is available online at www.gov.bc.ca/ecdev.
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Communications Manager 250 356-9428 |
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