Alberta commits extra $1 billion on incentives for petrochemicals
EDMONTON – Alberta is committing up to $1 billion to grow its petrochemical industry.
Energy Minister Marg McCuaig-Boyd says the money will be used for loan guarantees, grants and royalty credits to spur more private investments in the sector.
There will be $500 million in royalty credits for a second round of the Petrochemicals Diversification Program, spread over four years starting in 2020.
Another $500 million is for loan guarantees and grants for a petrochemical feedstrock program starting in 2021.