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OTTAWA - Ottawa has given its blessing to the sale of properties
2 c" ]- B4 r9 _5 nowned by Athabasca Oil Sands Corp. to a Chinese company.$ v6 g( B* ~% r( _
Federal Industry Minister Tony Clement says he has reviewed the4 _& D, W `7 m9 f# l- E k3 x
deal between Athabasca and PetroChina International Investment Co.
% L3 n! d2 T9 t6 c( p _. g- vLtd. and finds its is likely to be of net benefit to Canada.
- e5 o" V: z* o v Clement says PetroChina and its parent, PetroChina Co. Ltd., have3 o/ E1 k% X: }, ~9 H
made a number of significant commitments should they be allowed to
. `8 G4 H- |! H6 Z# K5 _- Zacquire control of the MacKay and Dover oil sands projects.
^6 q: T. W" F2 ?- V& H1 { Among other things, the Chinese concerns have agreed to capital
% h: ?# I& M' c5 ^: V* d, {) H& g' @expenditures in excess of $250 million for developing the properties9 `) ?' e) Z1 ^5 A) w& ] P
over the next three years.
& o+ U, _. W+ w7 w" V They have also pledged to increase employment levels in Canada as* O- I' R8 x9 B: H1 V8 ^. C9 |- @1 j( `
they develop the projects over the next three years and to maintain
2 q. I- u5 a! w. W" v8 A: Lan Alberta head office for operating companies associated with the4 V! Z8 @$ d" H( }. \6 }3 H4 q
projects for the next five years.
5 A: t! d5 L' d7 N (The Canadian Press) |
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