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OTTAWA - Ottawa has given its blessing to the sale of properties
+ a. o- E* e' Lowned by Athabasca Oil Sands Corp. to a Chinese company.$ H/ `5 u' @5 A; e! ~
Federal Industry Minister Tony Clement says he has reviewed the
, A4 h, M" `$ T" t+ j! X" W* kdeal between Athabasca and PetroChina International Investment Co.
f, y! \" o3 kLtd. and finds its is likely to be of net benefit to Canada.1 D9 N) ^6 \4 _, e+ ^2 ~9 S5 @
Clement says PetroChina and its parent, PetroChina Co. Ltd., have
- ]& n6 J* L5 ~7 u" l6 p2 Vmade a number of significant commitments should they be allowed to3 T1 z1 _0 v' B' ~
acquire control of the MacKay and Dover oil sands projects.
! A& l. R6 W3 K& `/ P9 m( ` Among other things, the Chinese concerns have agreed to capital1 j1 p* t6 ]6 E, H( }
expenditures in excess of $250 million for developing the properties
G/ K; H1 u: i1 Tover the next three years.6 {+ X/ L9 W' f) Z, y: `
They have also pledged to increase employment levels in Canada as
- z/ X' O/ E0 \% V, f/ }they develop the projects over the next three years and to maintain
6 r& ^' i3 u) v) V3 San Alberta head office for operating companies associated with the
, g3 g. Z5 q$ E( S3 L. M) hprojects for the next five years.% ], b! t& a' } a, X& ^
(The Canadian Press) |
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