The Chemical Processing Industry (CPI) in the Southeast Market Region of Mississippi, Tennessee, Alabama, Georgia and Florida is expected to see $700 million in capital and maintenance project activity in 2007, according to research from Industrial Info Resources.
The industry had seen a slight drop in projects in 2005 with approximately $300 million in spending. It rebounded in 2006 with over $870 million, the research showed.
Industrial Info expects the spring and summer to be particularly busy for the region, with several projects with an average total investment value between $25 million and $75 million.
Industrial Info also forecasts planned CPI maintenance turnaround activity to be over $50 million for 2007, with the majority of plant turnaround activity at $2 million each.
Nearly $170 million of the total spending for 2007 has been approved. Approximately $500 million in the planning phase, making a concrete forecast difficult, but strong investments are anticipated, the research noted.
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