Canada Kuwait Petrochemical Corporation Receives Federal Funding
Honourable Amarjeet Sohi, on behalf of the Minister of Innovation, Science and Economic Development, Honourable Navdeep Bains, announced a commitment of $49 million to Canada Kuwait Petrochemical Corporation (CKPC), a joint venture between Pembina Pipeline Corporation and Kuwait’s Petrochemical Industries Company K.S.C. (PIC) to construct a new $4.5-billion polypropylene complex in Alberta’s Industrial Heartland.
“Alberta’s Industrial Heartland Association is an active advocate for meaningful incentive programs that enhance Alberta’s competitiveness on the world market. We are very encouraged to see the government’s focus on increasing the Strategic Investment Fund, which was reflected in the funding announcement to CKPC. This activity sends a strong signal to investors that the governments of Canada and Alberta are focused on diversifying our energy economy and enhancing our competitiveness. We have worked hard over the last 12 months to highlight the opportunity in Alberta and we are pleased to see that the federal and provincial government announcements are having a significant positive impact on investment in Alberta’s Industrial Heartland,” says Mark Plamondon, Executive Director of Alberta’s Industrial Heartland Association.
For more information on CKPC’s investment in the Industrial Heartland, click here.