What's Happening?
Powell Industries has announced a $12.4 million investment to expand its production capacity at the Jacintoport manufacturing facility in Houston. This expansion is aimed at supporting increased Oil & Gas order activity driven by LNG project development. The investment will add 335,000 square feet of productive capacity and double the length of the existing shoreline bulkhead. Construction is expected to begin in the first quarter of Fiscal 2026 and be completed by late Fiscal 2026.
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Why It's Important?
The expansion is significant as it positions Powell Industries to capitalize on the growing demand for LNG infrastructure. This move is expected to strengthen Powell's market position and support the U.S. LNG production and export, which plays a crucial role in the global energy landscape. The investment reflects the company's commitment to supporting its Oil & Gas customers and adapting to market demands.
What's Next?
Construction of the expanded facility is set to begin in early Fiscal 2026, with completion expected by late Fiscal 2026. Powell Industries will likely continue to focus on enhancing its production capabilities to meet the needs of its customers in the Oil & Gas sector and other market sectors.
