U.S. Fourth-Quarter Grassroot Industrial Project Completions Total $37.9 Billion
Completions of U.S. grassroot projects worth $37.9 billion are expected to occur in fourth-quarter 2016. The projects include a mega data center in Texas, a windfarm in Nebraska and a steel "minimill" in Arkansas.
The Southwest Region (Arkansas, Oklahoma, Louisiana and Texas) will host fourth-quarter completions for 90 projects valued at $11.1 billion. One of the larger projects is the first phase of Facebook's (NASDAQ:FB) (Menlo Park, California) Mega Data Center in Fort Worth, Texas. Valued at $1 billion, the center will be built in three phases, including the 250,000-square-foot building to be completed by the end of this year. It will be run on wind-generated power. Construction began in July 2015.
The Midwest Region (Iowa, Kansas, Minnesota, Missouri, North Dakota, South Dakota and Nebraska) is home to anticipated fourth-quarter completions for 62 projects valued at $6.1 billion. This includes the $800,000 million Grand Prairie Windfarm in O'Neill, Nebraska. Owned by a subsidiary of Berkshire Hathaway Incorporated (NYSE:BRKA) (Omaha, Nebraska), the windfarm will be capable of generating 400 megawatts (MW). Construction kicked off in October 2015 and included the installation of 200 Vestas wind turbines, each capable of generating 2 MW.
The Southeast Region (Alabama, Florida, Georgia, Mississippi and Tennessee) will see completions for 75 projects worth nearly $3.8 billion in the upcoming quarter. Among these is Big River Steel LLC's steel minimill in Osceola, Arkansas. The $900 million project will produce 1.5 million tons per year of flat-roll and low-alloy, high-strength steel for the Automotive, Oil & Gas and Power industries.
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