Inventory of Major Capital Projects
The inventory of major projects provides information on capital projects and spending programs in Newfoundland and Labrador valued at $25 million or more.1 The list includes both public and private projects that are either continuing or beginning in the current year.2 In many cases, the capital spending figure quoted includes spending from previous years and estimated spending in coming years. Capital costs are estimates, in most cases, based on anticipated spending and may vary from actual spending. Capital spending figures generally include construction costs and soft costs, such as engineering, financing and legal. The inventory was prepared between January and March of 2024.
According to this year’s inventory, about $12.4 billion in major capital spending, on projects valued over $25 million, is planned or underway in the province. The ‘Mining and Oil & Gas’ category tops the list at $8.2 billion (see table). For a complete list of published investment projects click here.
| Major Projects ($ Millions) | |
|---|---|
| Mining and Oil & Gas | 8,226.5 |
| Municipal Infrastructure | 2,301.3 |
| Residential | 407.0 |
| Utilities | 360.9 |
| Health Care/Personal Care | 345.0 |
| Transportation | 316.0 |
| Commercial | 155.0 |
| Tourism/Culture/Recreation | 131.7 |
| Education | 93.7 |
| Agriculture/Fishery/Forestry | 61.6 |
| Industrial/Manufacturing | 34.4 |
| Total | 12,433.1 |
| Note: The total value for individual projects may include spending for all years of the project and may not reflect spending for 2024 alone. All projects in US dollars were converted to Canadian dollars for this table.
Source: Various, Department of Finance |
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1 Note that while every effort was made to identify projects and research information, this list is not exhaustive. The information was gathered at one point in time and, in some cases, protecting the requested confidentiality of information has prohibited the publishing of projects. Readers should not base investment or business decisions on the information provided.
2 In some project descriptions, government is identified as a source of funding. This reference, in most cases, is based on information provided by the project’s proponent and should not be interpreted as an announcement by government of funding approval by the Government of Newfoundland and Labrador.
Abbreviations may include TBD (to be determined) and NA (not available). Some projects are included in the list if the capital spending is anticipated to be between $24 million and $25 million. The capital spending for these projects is listed as ≈25.0.
Definitions
Capital Cost: Includes spending on machinery, equipment, and construction. In many cases it also includes purchases of computers and software. In some cases the capital figure quoted covers the entire life of the project. This means that the figure can include spending from previous as well as future years.
Start/End Date: (Start) The year in which the proponent considers the project to have started or will start. (End) The year in which the expenditure is completed. An asterisk (*) by a project name denotes that the project has a start and end date on a fiscal year basis (e.g., start/end denoted as 2024/2024 refers to the project starting and ending in fiscal year 2024-25; start/end denoted as 2024/2025 refers to the project starting in fiscal year 20234-25 and ending in fiscal year 2025-26). All other years are reported on a calendar year basis.
Description (Location): Basic descriptive information about the project. The location is included in brackets and indicates the town or city where the project is taking place. In some cases, the spending figure provided covers projects in numerous communities. In these cases, the community is usually listed as “various”.
Category Headings: Indicates the category in which the work is taking place (e.g., transportation, mining and oil & gas, etc.).