264 expansion or construction projects announced, of which 40% have commenced or completed
Expansion and construction projects linked to shale gas continue to drive investment in the US chemical industry. The American Chemistry Council (ACC) has identified 264 projects that have been officially announced, of which around 40% have completed or begun construction works.
The projects include new facilities, expansions and factory re-starts. If they all go ahead, they represent a combined investment of $164 billion (£115 billion) in the sector. Most of the developments that are not yet committed are in the planning phase, but 5% of the total are ‘delayed or uncertain,’ the ACC said.
The number of projects being undertaken has grown considerably since 2013, when the ACC identified 100 announced projects representing a potential $72 billion in investment.
More than 60% of these projects are being undertaken by foreign-owned firms looking to take advantage of the cheap energy and feedstock that shale provides.