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OTTAWA - Ottawa has given its blessing to the sale of properties% _6 j5 N6 R' H3 E/ {( C0 H5 x
owned by Athabasca Oil Sands Corp. to a Chinese company.
+ i3 ^6 \4 ^9 S+ z2 D Federal Industry Minister Tony Clement says he has reviewed the$ E G' T, Q7 S8 L8 H2 |
deal between Athabasca and PetroChina International Investment Co.2 c+ C% `- ^/ K9 d8 o3 Z
Ltd. and finds its is likely to be of net benefit to Canada.
: E( p9 E- j2 Y9 G2 M G6 Z Clement says PetroChina and its parent, PetroChina Co. Ltd., have: C7 @: A! |6 Y
made a number of significant commitments should they be allowed to
* P2 o6 K' e3 Zacquire control of the MacKay and Dover oil sands projects.* F2 x, ~0 C6 g
Among other things, the Chinese concerns have agreed to capital
* c& x/ ^/ U: ^$ [expenditures in excess of $250 million for developing the properties
4 X; `, t' \2 K7 E. m+ t, `over the next three years.# K) R+ ?' H( U
They have also pledged to increase employment levels in Canada as. O$ z) m S0 W0 K: U6 w# ?
they develop the projects over the next three years and to maintain
9 R8 a$ M$ u, L5 R- ?4 F6 K- van Alberta head office for operating companies associated with the4 H/ C5 s% X+ s/ I; L; f
projects for the next five years.6 I. D5 V: w) L" h
(The Canadian Press) |
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