SUGAR LAND, Texas--(BUSINESS WIRE)--Researched by Industrial Info Resources--With the fifth-largest economy in the world, California isn't lacking in industry or projects in development. Industrial Info is tracking more than $78 billion worth of projects under construction in the state. While the transportation sector leads the spending, the projects cover a wide range of sizes and sectors.
The transportation sector accounts for more than two-thirds of California's overall project spending, but it represents relatively few projects, as most carry high price tags and are aimed primarily at light rail and airports. Two of the largest underway involve the extension of the Purple Line on the Los Angeles subway system. Section 1 entails constructing 3.9 miles of track with twin-bored tunnels along with three new stations. Section 2 also is underway, involving 2.6 miles of new track and two new stations.
Section 1 has been underway since 2014, while construction on Section 2 began in early 2018. Both segments are expected to be completed next year.
California has some of the most rigorous fuel standards in the nation, and several projects involve the production of alternative fuels that can replace less clean fossil fuels. World Energy LLC (Boston, Massachusetts), for example, is adding a sustainable aviation fuel unit that will lift production at its plant in Paramount to 340 million gallons per year.
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Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
