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OTTAWA - Ottawa has given its blessing to the sale of properties
4 _. J. d$ m& t" h$ F" i, g7 howned by Athabasca Oil Sands Corp. to a Chinese company.
+ w& B# V+ A' N Federal Industry Minister Tony Clement says he has reviewed the: j( U8 m$ X+ |) I) {6 J, l' d n
deal between Athabasca and PetroChina International Investment Co.% T+ `6 W9 Z/ w8 o# v3 i+ t. n" U
Ltd. and finds its is likely to be of net benefit to Canada.$ i6 a% m! @. z, I& p
Clement says PetroChina and its parent, PetroChina Co. Ltd., have. z( B( e3 d; o
made a number of significant commitments should they be allowed to# X, }. I- u7 P
acquire control of the MacKay and Dover oil sands projects.
) |: {/ P' y- U! j) t. @0 j6 y Among other things, the Chinese concerns have agreed to capital
5 X d9 s6 d4 i/ N) s# }" ~, G: ]8 rexpenditures in excess of $250 million for developing the properties& L& u( a/ z0 h- P; k7 Y
over the next three years.
- K L$ R+ s& w: }( o; k; K+ w They have also pledged to increase employment levels in Canada as
( |1 n; R3 e/ }* G5 O- k; J. pthey develop the projects over the next three years and to maintain
7 N4 d* I1 F. u; Nan Alberta head office for operating companies associated with the
, f4 x; Q% t' c5 t7 v' X$ bprojects for the next five years." K: Q# }& y/ N
(The Canadian Press) |
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