MOSCOW (MRC) -- Canada's Alberta government, Monday, unveiled a program to boost province’s petrochemical sector under its Petrochemicals Diversification Program, the provincial government announced in a statement, reported TPS.
The Petrochemicals Diversification Program will encourage companies to invest in the development of new Alberta petrochemical facilities by providing up to CAD$500 million (USD356 million) in incentives through royalty credits, said Alberta Energy, the government agency that manages the development of province's non-renewable resources including coal, minerals, natural gas, petrochemicals, conventional oil and oil sands and renewable energy.
The program, announced on is part of the government’s continued action on the economy, helping to create jobs, attract investment and diversify Alberta’s economy, the agency said.
Building on Alberta's large supply of methane and propane, the program will capitalize on the growing global demand for related higher value products and promote greater energy processing right here in Alberta.
We remind that, as MRC informed earlier, in October 2015, Williams announced that it was proceeding to the next phase of development with its planned propane dehydrogenation (PDH) facility located near Edmonton, Alberta. The plant will have a capacity of 525 KTA of polymer grade propylene production and will use low-cost, locally sourced propane as its feedstock.
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