-17 C
Fort St. John
Wednesday, November 7, 2018
Tel: 250-787-7100
Email: contact@energeticcity.ca
9924 101 ave Fort St. John, B.C.
Advertisement
Advertisement

Advertisement

Inter Pipeline green-lights $3.5B petrochemical project to produce plastic

Advertisement

CALGARY — Inter Pipeline Ltd. (TSX:IPL) says it has decided to go ahead with a $3.5-billion petrochemical project in an industrial area north of Edmonton.

The complex will convert propane into polypropylene, a plastic used in the manufacturing of products such as automobile parts, containers and Canadian bank notes.

The province picked Inter Pipeline’s project a year ago to receive up to $200 million in royalty credits. Pembina Pipeline (TSX:PPL), also headquartered in Calgary, is to receive $300 million in credits for a similar project in the same area if it decides to proceed.

The credits, to be paid out after the facilities are operating, can’t be used directly by the petrochemical facilities, but they can be sold to oil or natural gas producers to reduce their provincial royalty payments.

Inter Pipeline says construction of the integrated propane dehydrogenation and polypropylene plant is the most expensive project it has ever built.

Advertisement

Construction is to be completed in late 2021.

The Canadian Press

Advertisement

Advertisement
Advertisement

Advertisement

Advertisement

Advertisement

Local Events

Doc Walker to play the Lido Theatre

HYPNOTIST: RAY ANDERSON

Jokes N Tokes Comedy Tour

Advertisement

Advertisement

Must Read

Inconnu swimmers perform well in Grande Prairie

GRANDE PRAIRIE, A.B. - This past weekend twenty-eight Inconnu swimmers headed to Grande Prairie for the Fast Track into Fall 2018 swim meet. The event ran...