Alberta government to partially backstop new $2 billion dollar bitumen upgrader

Project would create more than 2,000 jobs during construction

The Alberta government is providing a $440 million loan guarantee to help a Calgary-based company build a new bitumen upgrader east of Edmonton.

Value Creation Incorporated says it’s ready to break ground on the $2 billion upgrader that would convert more than 77,000 barrels of diluted bitumen each day into medium synthetic crude and an ultra low sulphur diesel.

Synthetic crude can flow easier through pipelines.

Premier Rachel Notley says the loan guarantee is all the support the company will receive from the provincial government.

She says the project would create more than 2,000 jobs during construction and another 200 full-time positions once the facility is up and running.

The plant is expected to be operational in 2022.

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

Ponoka man attacked by dogs issues plea to town council

Troubles with bylaw and handling of court case prompts presentation to council

Concerns over town expressed to Ponoka County council

Resident warns county council in collaboration discussions with Town of Ponoka, council notes its own concerns

Bashaw peewee club’s season comes to an abrupt end

Players decide not to go into playoffs without one of their teammates

Ponoka County resident wants $62,000 in lease revenue

County approves revenue to landowner going forward, legal review to look at retroactive funds

Ponoka County receives letter of intent related to livestock operations

The Ponoka Right to Farm Society intends to submit claim through Court of Queens Bench

‘Riya was a dreamer’: Mother of slain 11-year-old Ontario girl heartbroken

Her father, Roopesh Rajkumar, 41, was arrested some 130 kilometres away

Ontario man accused of killing 11-year-old daughter dies in hospital, police say

Roopesh Rajkumar had been hospitalized with what police described as a self-inflicted gunshot wound

Manitoba ‘pauses’ link with ex-B.C. premier Gordon Campbell after allegations

Campbell had been hired to review two major hydro projects

Heritage minute features Japanese-Canadian baseball team, internment

The Vancouver Asahi baseball team won various championships across the Pacific Northwest

Hee-Won Son takes home gold in 500m Female Short Track Speed Skating

Team Alberta sits in second place overall at the Canada Winter Games

Shots fired in Maskwacis home invasion

Maskwacis RCMP are searching for three suspects in a home invasion (with photos)

CRTC report finds ‘misleading, aggressive’ sales tactics used by telecom industry

Report recommends measures to make a fairer situation for consumers

Crude-by-rail shipments set new record in December despite lower price discounts

Canada exported nearly 354,000 barrels per day of oil, up seven per cent from November

Do you live with your partner? More and more Canadians don’t

Statistics Canada shows fewer couples live together than did a decade ago

Most Read