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OTTAWA - Ottawa has given its blessing to the sale of properties
8 [1 j I, {0 g& v+ R# Cowned by Athabasca Oil Sands Corp. to a Chinese company.
5 p- I" c/ u7 g5 j Federal Industry Minister Tony Clement says he has reviewed the5 V' m. |+ D( V9 B
deal between Athabasca and PetroChina International Investment Co.
( N! O$ U# K4 w* y' I& C" T4 eLtd. and finds its is likely to be of net benefit to Canada.) h5 b8 M0 n9 v( ]0 _/ u7 u" q& M
Clement says PetroChina and its parent, PetroChina Co. Ltd., have
+ }: T g! W& |9 E$ x, Tmade a number of significant commitments should they be allowed to
8 L9 C9 e+ P( u) v- ]( H. Xacquire control of the MacKay and Dover oil sands projects.
/ r5 @8 P+ r9 I0 k; T- k4 R2 x7 o1 k Among other things, the Chinese concerns have agreed to capital9 N" n- t' y8 [& _
expenditures in excess of $250 million for developing the properties" b4 H8 x, H* {* _( a. ^
over the next three years.* I+ z% B& A$ w* K& H- R
They have also pledged to increase employment levels in Canada as
! }# q. _0 z) {' C* ]3 w' H/ ~- g5 Nthey develop the projects over the next three years and to maintain
& \: V0 g4 x2 N* ^- r. R8 dan Alberta head office for operating companies associated with the
& i8 Y! k" Y6 _0 z* fprojects for the next five years.
1 \/ p* A; ] }4 t5 n i" { (The Canadian Press) |
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