Welcome to the 2001 Virtual Global Super Projects Conference

Welcome!

This year we meet in a time of crisis. The free world mobilizes to combat terrorism. While there are problems, this is, without doubt, a prime time to talk about great projects that promise to improve the quality of life for people everywhere.

While the catastrophe of September 11, 2001 has many ramifications, it should not interrupt the construction of most major infrastructure and industrial projects around the world. If ever there was a time to look at the doughnut and not the hole, this is it.

The world is on the threshold of the greatest growth in history. Around the globe firms are preparing to provide food, shelter, clothing, and essential services for another one billion people before the year 2012. This is not just a daunting challenge. It is an unprecedented opportunity!

Evidence of preparation for this new growth can be seen in our files of global super projects. These records contain entries for more than 2,000 projects, each estimated to cost $1 billion or more. About one-third are ideas and proposals, another third are in the planning stages, and another third are already under construction.

For example, there are many large new projects designed to meet needs for electric power. The nuclear industry proposes to invest $50 billion during the next two decades. Newly conceived nuclear projects have already been launched in New York and in China. Coal-fired plants are also big business, with billion-dollar projects in Wisconsin, Tennessee, Kentucky, Ohio, and Texas. Brazil plans to invest more than $7 billion in natural-gas-fired generating stations. There are new hydroelectric plants being launched in India and the Philippines.

Energy-related projects also include such ventures as a $1.7 billion gas pipeline from New Mexico to California; a $15 billion Trans-America grid; and a $3 billion African oil pipeline from Chad to Cameroon.

Transportation projects are also strong elements. There are many big rail projects around the world. Some, like a Dutch project, are new high-speed rail links. Others, like "Tren Urbano" in Puerto Rico, are urban mass transit projects. In the UK, there is a $9 billion plan for improving the London to Glasgow link. Other billion-dollar projects include a Los Angeles to Pasadena line and a New Jersey-Bergen line. Hong Kong has scheduled $13 billion in new rail construction. Dallas will invest $1 billion in a line to DFW airport. Phoenix plans a $3 billion transit system and Copenhagen is building a new subway system.

Highway projects also loom large. China is moving ahead with its National Highway Trunk System. The San Francisco Oakland Bay Bridge is being made more earthquake resistant via a $2 billion project, and the Woodrow Wilson Bridge in Washington is being upgraded by some $2 billion. Paris, Denver, Boston, and other cities have $1 billion highway projects underway. Also in the transport category are new and expanded container ports, such as the $1 billion project at Bayport, Texas.

Most numerous and most significant are the super projects being built by private industry around the world. The huge new investments are to be found in many different industries. For example, they include several computer-related projects by Intel, Cisco, IBM and Corning in the United States; LNG plants in Mexico, Nigeria, India, and China; auto plants by GM in the U.S. and Daimler-Chrysler in Canada.

Also of global importance, there are numerous billion-dollar projects aimed at environmental enhancement. Egypt is working on a huge irrigation scheme to create another Nile Valley. The Florida Everglades restoration project is estimated at more than $7 billion. Several nuclear clean-up sites involve $1 billion or more. A water project in the Sacramento Valley will involve $8 billion.

Major projects such as these are planned years in advance and require years to complete. They are not likely to be suspended or interrupted by terrorist acts or short-term fluctuations in business activity. Most important, such events are no deterrent to the functioning of creative minds. This can be seen in a scan of papers submitted for this conference.

This year we have a very exciting mix of short-term and long-term projects to discuss. We invite and urge all interested parties to contribute their comments.