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OTTAWA - Ottawa has given its blessing to the sale of properties
# I1 L& ?: `8 }& V- z" V0 u* Rowned by Athabasca Oil Sands Corp. to a Chinese company.
4 t! [6 \0 z J7 z* m6 w5 D7 b Federal Industry Minister Tony Clement says he has reviewed the4 c" u% N$ P( E6 T% g6 }* q
deal between Athabasca and PetroChina International Investment Co.8 m5 E, m1 s" D
Ltd. and finds its is likely to be of net benefit to Canada.) }6 Z+ L! r9 L+ g, |0 F* q
Clement says PetroChina and its parent, PetroChina Co. Ltd., have; b9 ?7 K4 L/ A
made a number of significant commitments should they be allowed to
0 B- v1 h4 H( ]: j6 \9 L( L: Z, hacquire control of the MacKay and Dover oil sands projects.
/ c+ i: L/ O* F. H, o% | Among other things, the Chinese concerns have agreed to capital) [9 T3 a/ y6 I3 i# q
expenditures in excess of $250 million for developing the properties
c; I! q+ d5 b$ j$ a+ |over the next three years./ G7 j: [- ^5 W) {. @7 x) e% \
They have also pledged to increase employment levels in Canada as: e* ~6 s' s/ \ w& x4 W5 B. ?- u
they develop the projects over the next three years and to maintain
, v. b6 B" ^2 h; dan Alberta head office for operating companies associated with the
( q% [, G' a& v: t- U- ?' U! Mprojects for the next five years.
u6 n4 Q5 Z# n% C9 w' g (The Canadian Press) |
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