Industrial companies sometimes hesitate about whether to reuse and revamp existing infrastructure or build a new facility instead. Reuse could be indicated by various factors, including post-crisis caution, land scarcity, burgeoning environmental regulation, and investment cost considerations. But the case for revamping is rarely straightforward. Revamping existing structures is generally subject to more practical constraints than a newbuild, and the risks are often perceived to be higher. Revamping also brings significant technical challenges and always leads to compromise.
In this paper we outline the benefits and drawbacks of revamping an existing structure—generally of steel construction—and discuss a number of attention points and best practices. Advice is given on how best to initiate, prepare and manage such facility redevelopment projects.