ANNOUNCEMENT 05 Dec 2016
The provincial government created the diversification program in 2016.
NUMBER OF INTERVENTIONS
In 2016 the government of Alberta launched a Petrochemicals Diversification Program to encourage companies to invest in the development of new Alberta petrochemical facilities by providing Can.$500 million (U.S.$382 million) in royalty credits. On December 5, 2016 the program awarded up to Can.$300 million (U.S.$229 million) to a joint venture between Calgary-based Pembina Pipeline Corporation and Petrochemical Industries Company, based in Kuwait, to build a new facility in Sturgeon County. The Can.$3.8-4.2 billion facility will process 22,000 barrels per day of propane into polypropylene. Construction is expected to start in 2019, with the facility operating by 2021.