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OTTAWA - Ottawa has given its blessing to the sale of properties8 P2 X2 m) F/ H1 X
owned by Athabasca Oil Sands Corp. to a Chinese company.' h/ k2 D6 g9 ], W3 W& y
Federal Industry Minister Tony Clement says he has reviewed the
+ Q9 ]6 |, J4 N }7 @; e/ i4 Vdeal between Athabasca and PetroChina International Investment Co.
_% h# X" V% A9 sLtd. and finds its is likely to be of net benefit to Canada.
$ U4 M, |: J8 S' b7 @1 t' B( F- N Clement says PetroChina and its parent, PetroChina Co. Ltd., have, Y6 \* e3 R n. h" o
made a number of significant commitments should they be allowed to
x+ _! t) X O, L7 |6 a' e \3 q& sacquire control of the MacKay and Dover oil sands projects.
* n' Q$ D. h3 q+ Q$ B2 i- i, e/ d5 t Among other things, the Chinese concerns have agreed to capital! a! {4 ]* u- i
expenditures in excess of $250 million for developing the properties6 N/ N8 n* f! ]' s6 | } D# v
over the next three years.3 Y5 q i. `$ Y( a; S" R7 g6 D" h0 @. \
They have also pledged to increase employment levels in Canada as
% h% u I! W" Q1 j7 w0 ^they develop the projects over the next three years and to maintain
# z/ ~0 V& C: B% o. G0 B" kan Alberta head office for operating companies associated with the
% S. d9 t" @! K+ b1 i% P) T; Bprojects for the next five years.8 l- u6 s6 ]3 w- x3 T
(The Canadian Press) |
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