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OTTAWA - Ottawa has given its blessing to the sale of properties8 u z! S, R7 G9 M4 F0 b9 |
owned by Athabasca Oil Sands Corp. to a Chinese company.
7 F% I+ n" i6 Z" M, p" |/ D Federal Industry Minister Tony Clement says he has reviewed the
7 z4 N D1 `" B P4 ndeal between Athabasca and PetroChina International Investment Co.7 |3 \" [' R7 U' D5 c* k
Ltd. and finds its is likely to be of net benefit to Canada.' r2 s5 v$ n @& l, B$ I# s
Clement says PetroChina and its parent, PetroChina Co. Ltd., have, N9 b/ o' v0 {5 B t& {7 h
made a number of significant commitments should they be allowed to
# e9 L, n6 \2 p# U1 @acquire control of the MacKay and Dover oil sands projects.
* x. b. p# W1 W# D) y# q Among other things, the Chinese concerns have agreed to capital
C/ M! y, U$ j4 q+ l) F' B8 h3 Nexpenditures in excess of $250 million for developing the properties
! t+ q$ g7 d6 Z, L! A) gover the next three years.9 u1 C$ C( i, Q2 C
They have also pledged to increase employment levels in Canada as5 t% C2 m [- T }
they develop the projects over the next three years and to maintain
% X, j- n5 R0 T2 k b/ Y+ nan Alberta head office for operating companies associated with the$ u( ? h& U& o+ Y/ ~7 x
projects for the next five years.1 W* \& R H$ P+ n
(The Canadian Press) |
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