Capital Project

A capital project is an investment in long-lived assets that generally require spending big bucks, either at one time or over a long haul. You'll note the use of the word "capital." That suggests the fact that a firm is investing part of its net worth into a project, typically with the goal of expanding the business. A capital project can involve purchasing real estate or investing in equipment or technology.

The term "capital project" can also be applied within the government sector to denote infrastructure investment. Expanding a road, building a bridge or constructing an airport could all count as capital projects in this context.