Daily Newsletter

18 October 2023

Daily Newsletter

18 October 2023

First phase of vertical construction begins on The Bellwether District

The project will turn an old industrial site into an advanced technology, e-commerce, and logistical complex.

October 17 2023

American company Hilco Redevelopment Partners (HRP) has begun vertical construction on The Bellwether District, a multiuse redevelopment site in South Philadelphia, US.

The Bellwether District is situated at the centre of the US Eastern Seaboard.

This project covers construction on a 1,300-acre site and will transform an old industrial site into an advanced technology, e-commerce, and logistics complex.

The former Philadelphia Energy Solutions refinery is nearly demolished, which will lead to a 16% decline in emissions in Philadelphia.

The former Philadelphia Energy Solutions refinery was bought out of bankruptcy by HRP in June 2020.

This site will accommodate a 14-million-square-foot complex separated into two commercial campuses - 250 acres for the Innovation campus and 750 acres for the Industrial campus.

A ground-breaking event was held to mark the beginning of the first phase of vertical development on the site’s Logistics campus. Lots 15 and 16 will include two industrial buildings totalling one million square feet.

South Philadelphia City Second District councilmember Kenyatta Johnson said: “This is an exciting project that will serve as an economic hub in the Greater Philadelphia region.

“The demolition of the former refinery has already created over a thousand union construction jobs, and the construction of new buildings on the site will mean even more work for unions in Philadelphia.”

Over a ten- to 15-year period, The Bellwether District is expected to generate 19,000 direct permanent employment opportunities and more than 28,000 direct construction jobs.

South-East Asia Construction Market Dynamics

The Chinese government holds nuclear power to be a key instrument in achieving clean energy. During their 13th Five-Year Plan period from 2016 to 2020, China built 20 new nuclear power plants with a total capacity of 23.4 GW. In the current 14th Five Year Plan period the government has set targets to achieve 70GW of nuclear power capacity by 2025. The government has no plans to phase out or phase down nuclear power plants and there are over 17 nuclear power projects under construction.

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