Apr 16, 2020
Average value skyrockets for new construction projects
The average value of the largest construction starts grew 1,404% to $2.97 billion in 2019, up from $197 million in 2018.
However, that growth was largely the result of the stratospheric value of the No. 1 new project, LNG Canada’s Kitimat liquefied natural gas export facility. Even though LNG Canada is an outlier, the value of other large construction starts in the province also swelled.
The No. 2-ranked Coastal GasLink pipeline project, valued at $6.2 billion, is nearly 10 times the size of the $650 million project ranked second in 2018.