MDU Resources looks outward to 2026

MDU Resources, the parent company of Knife River Corp., plans to make several capital investments in its construction materials and services businesses over the next five years.

According to MDU Resources, its 2022-to-2026 investments will be focused primarily on organic expansion opportunities and normal equipment and plant replacements and upgrades. Included in the company’s forecast is the construction of a prestress concrete plant in Spokane, Washington, continued development of the company’s Honey Creek Quarry in Texas and completion of the company’s training facility in Oregon.

MDU Resources expects public sector workload growth to take place from infrastructure spending initiatives. The company points to the American Rescue Plan Act, approved in early 2021, as providing $1.9 trillion in COVID-19 relief funding for states and local governments, with investments to include transportation enhancements, technology-based facility buildout and telecommunications infrastructure.

Additionally, MDU Resources expects the Infrastructure Investment & Jobs Act will provide opportunities for both construction materials and services companies through much-needed investment in America’s infrastructure.

MDU Resources says its construction businesses are also focused on growth through mergers and acquisitions.

“Our capital investment plan supports the significant opportunities we see for organic growth at all our businesses, particularly a focus on infrastructure development and grid reliability and resiliency,” says David Goodin, president and CEO of MDU Resources.