Study Predicts Increased Frequency of Megaprojects in the Processing Industries

July 19, 2010
An IPA study sees a major increase in megaproject activity in the next few years that could put a strain on engineering and construction resources.

Independent Project Analysis, Inc. (IPA), a global capital project consulting business, is completing an extensive study of onshore megaproject developments. The study predicts the demand for megaproject developments will increase at a high rate in the next few years as the global recession subsides. Further, the increase in megaproject spending is expected to be more rapid than in the boom period from 2005 to 2008, the study found. The projected growth rate of over 30% per year in megaproject spending will place a strain on engineering firms, suppliers, and construction resources. Global demand, especially in the emerging regions (China, India, Middle East, Brazil, etc.), is a primary driver of the increased number of megaprojects. Also, the rebound in commodity prices (such as oil and metals) will contribute to the economic feasibility of these huge capital investments.

For more information, visit:

Sponsored Recommendations

Keys to Improving Safety in Chemical Processes (PDF)

Many facilities handle dangerous processes and products on a daily basis. Keeping everything under control demands well-trained people working with the best equipment.

Comprehensive Compressed Air Assessments: The 5-Step Process

A comprehensive compressed air audit will identify energy savings in an air system. This paper defines the 5 steps necessary for an effective air audit.

Get Hands-On Training in Emerson's Interactive Plant Environment

Enhance the training experience and increase retention by training hands-on in Emerson's Interactive Plant Environment. Build skills here so you have them where and when it matters...

Managing and Reducing Methane Emission in Upstream Oil & Gas

Measurement Instrumentation for reducing emissions, improving efficiency and ensuring safety.