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OTTAWA - Ottawa has given its blessing to the sale of properties
6 H. @6 _& E$ `7 N; Powned by Athabasca Oil Sands Corp. to a Chinese company., l8 E4 K+ q; i* r
Federal Industry Minister Tony Clement says he has reviewed the
' b4 P7 C8 I1 N4 c4 Xdeal between Athabasca and PetroChina International Investment Co.) J6 C0 T% W2 x, P' `
Ltd. and finds its is likely to be of net benefit to Canada.' ^8 s! m. A5 f _
Clement says PetroChina and its parent, PetroChina Co. Ltd., have3 z6 |+ R+ C% f
made a number of significant commitments should they be allowed to
! E* j, M$ J8 r0 K9 i$ b( Gacquire control of the MacKay and Dover oil sands projects.- {% P! n8 e! r% b* ?
Among other things, the Chinese concerns have agreed to capital
! |1 h3 P' \$ n7 p- R# _, Eexpenditures in excess of $250 million for developing the properties
9 h5 w( t- \8 A. @$ o# dover the next three years.
1 W' w* E1 V: ? They have also pledged to increase employment levels in Canada as! g7 n3 O9 z' K( Y8 v1 g+ \2 \( x" t
they develop the projects over the next three years and to maintain; P6 t* i1 ]8 T. n' g" v: n
an Alberta head office for operating companies associated with the
: u0 B) n5 {5 z7 g0 c4 ]projects for the next five years.
9 g# v) h; b8 J8 z8 L (The Canadian Press) |
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