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OTTAWA - Ottawa has given its blessing to the sale of properties: X [+ \* Y) Z6 N1 z5 H
owned by Athabasca Oil Sands Corp. to a Chinese company.
, ~' k" u1 K, V& s. \ Federal Industry Minister Tony Clement says he has reviewed the, J( w% l+ b2 W4 q
deal between Athabasca and PetroChina International Investment Co.
|# I2 q& K, u8 d* L# k/ eLtd. and finds its is likely to be of net benefit to Canada.
' @; n- I6 Y& N# f) I Clement says PetroChina and its parent, PetroChina Co. Ltd., have6 r" Q5 S/ e+ q/ E7 c
made a number of significant commitments should they be allowed to
& H7 ^8 F' n) E& o# aacquire control of the MacKay and Dover oil sands projects.
$ x# l- s$ T/ l Among other things, the Chinese concerns have agreed to capital
$ A! V4 n9 v( B5 x+ E* c$ jexpenditures in excess of $250 million for developing the properties
( k7 D- d1 { vover the next three years.0 t- k, x5 r7 R( v& t" K
They have also pledged to increase employment levels in Canada as4 u3 B- P9 m' H' ]1 U* l
they develop the projects over the next three years and to maintain
6 }" c; M' B( y: Q7 Lan Alberta head office for operating companies associated with the
8 r7 i* j$ {7 }5 Z& c/ Wprojects for the next five years.) x: ]% v/ W" t" ]3 Q
(The Canadian Press) |
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