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OTTAWA - Ottawa has given its blessing to the sale of properties/ e6 A( N1 r) z: p+ ~+ u9 N
owned by Athabasca Oil Sands Corp. to a Chinese company.
% i. `: }1 u2 W/ _% p Federal Industry Minister Tony Clement says he has reviewed the
1 {, d/ n( k, ]. J" y" {0 V- \4 ^' `deal between Athabasca and PetroChina International Investment Co.' d! b2 W3 r" M) A
Ltd. and finds its is likely to be of net benefit to Canada.
2 I1 J$ F! Z* ]. z( C* I2 L0 t# d2 F Clement says PetroChina and its parent, PetroChina Co. Ltd., have
/ S7 r' z* ], u6 F: kmade a number of significant commitments should they be allowed to
: {* d% b; [- Z3 aacquire control of the MacKay and Dover oil sands projects.- O _9 ]3 M, a" f
Among other things, the Chinese concerns have agreed to capital
! o4 Z7 _4 h- g4 Fexpenditures in excess of $250 million for developing the properties2 j( Z+ n" ?0 M+ \
over the next three years.! M3 h& y. @* }% M, _4 u* D2 G
They have also pledged to increase employment levels in Canada as/ w7 t, u* c" Y. {7 x
they develop the projects over the next three years and to maintain
u! @2 f# A, I$ a1 c( c+ U) kan Alberta head office for operating companies associated with the
- l9 S$ O6 r& l: ^8 h/ w+ o/ {projects for the next five years.
$ k6 L" Q: q- K7 q6 B$ F/ z. x! ` (The Canadian Press) |
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