Construction projects forge ahead in B.C.

VICTORIA, B.C. — Construction projects across B.C. have increased for the 21st consecutive quarter, with 863 major capital projects, worth an estimated $174.7 billion planned or underway.

According to the Major Projects Inventory, September 2008 edition of the 863 major capital projects is an increase of 30 percent in estimated value from this time last year. The projects are also an increase from September 2005, when 650 projects worth an estimated $82.1 billion were planned or underway.

The total capital cost of all major projects under construction in B.C. is estimated at $62.5 billion, up from $60.6 billion in the second quarter of 2008.

“B.C. has continued to demonstrate consistent growth in economic performance with a record number of large scale construction projects planned or underway throughout the province,” said Technology, Trade and Economic Development Minister Ida Chong. “We recognize the challenges our capital markets are facing, but remain optimistic. With our increase in major projects alongside a triple-A credit rating, B.C. remains an attractive place for investment.”

Published quarterly by the Ministry of Technology, Trade and Economic Development, the Major Projects Inventory lists all major projects that are proposed, planned or underway in B.C.

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.

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