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OTTAWA - Ottawa has given its blessing to the sale of properties, k: P! i* l) X( d* g
owned by Athabasca Oil Sands Corp. to a Chinese company.
3 D: Z& r1 w- m& B; I Federal Industry Minister Tony Clement says he has reviewed the
1 ?" A0 }/ W/ D1 h$ J: v# Hdeal between Athabasca and PetroChina International Investment Co.
% m/ t: L3 W; mLtd. and finds its is likely to be of net benefit to Canada.- M1 K3 H6 S6 \
Clement says PetroChina and its parent, PetroChina Co. Ltd., have
0 @ G; h; F! ~$ x3 E5 Wmade a number of significant commitments should they be allowed to
0 o, _% V. c6 n, nacquire control of the MacKay and Dover oil sands projects.
+ E. Y) A: ~$ I- [) b Among other things, the Chinese concerns have agreed to capital
' ? n% G, Q) |) {; y4 Vexpenditures in excess of $250 million for developing the properties
; F: J( g/ I3 ?& `# @0 Vover the next three years./ r: m" \9 [% b& g# |( ]
They have also pledged to increase employment levels in Canada as4 R) L8 B# [3 `0 }
they develop the projects over the next three years and to maintain
9 R$ Y: Q/ e+ q, S* fan Alberta head office for operating companies associated with the2 G* N7 D! a* `) ~& H5 x
projects for the next five years." t6 [, n5 o: x8 n. G
(The Canadian Press) |
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