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OTTAWA - Ottawa has given its blessing to the sale of properties5 R" X1 f0 @3 u. [6 e0 {
owned by Athabasca Oil Sands Corp. to a Chinese company., Y' @2 |( M7 l! P% r x/ A
Federal Industry Minister Tony Clement says he has reviewed the6 h; `- A9 R2 p6 ^
deal between Athabasca and PetroChina International Investment Co.: \4 e! r4 l, V6 ]. [
Ltd. and finds its is likely to be of net benefit to Canada.' _2 P/ P) \1 V( T( Z
Clement says PetroChina and its parent, PetroChina Co. Ltd., have
% x5 N1 ^9 W9 s2 I4 O$ U( {6 Pmade a number of significant commitments should they be allowed to
; z8 ?3 ]6 q" T4 V7 t8 kacquire control of the MacKay and Dover oil sands projects.
5 U& f% q# F9 g1 ~ Among other things, the Chinese concerns have agreed to capital4 n3 k; x; [5 Q% B9 r2 d
expenditures in excess of $250 million for developing the properties
2 I" W; W' h* b, N! A2 Cover the next three years.
" l( }: s' @9 {! y They have also pledged to increase employment levels in Canada as! Y# f7 }' X4 e6 h
they develop the projects over the next three years and to maintain
+ Y6 d- t; I+ b/ F3 w0 a) Han Alberta head office for operating companies associated with the
! N% U5 F+ e% j, xprojects for the next five years.7 h& k/ @- z1 w) s e
(The Canadian Press) |
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