The Alberta government has awarded an estimated $400 million to the company behind an ambitious oil- and gas-mining program to help Alberta’s oil-exporting industry grow.
Key points:The $400-million project is aimed at developing new technologies and developing the province’s oil and gas resources for exportThe program was announced on Monday by Alberta Premier Rachel NotleyThe project will create more than 600 jobsThe project is part of a larger $400.3-billion resource development program to boost the provinces economySource:Associated Press | WASHINGTONTREAT, Wyo.
(AP) An oil-production boom in Alberta is part and parcel of a broader energy-sector expansion effort that has helped boost the state’s economy in recent years.
The government has announced a $400-$500 million investment in the province that will see more than 300 jobs created, including 600 construction and technical jobs.
The $1.1 billion program is part a larger energy-industry expansion effort, which the government hopes will boost the economy by as much as 5.5 per cent.
The Alberta Energy Regulator is paying the money to the developers of the $600 million project, which will help develop technologies that can be used in the oil-shale industry.
Alberta’s energy industry is already booming and the provincial government expects the new project will help boost the countrys economy by 5.6 per cent, the government said.
The new jobs will be in the Oil and Gas Mining Industry.
It is an industry that has grown over the last decade in Alberta.
It’s estimated that it employs about 8,000 people in Alberta alone.
It is expected that the $500 million project will bring some 1,000 jobs in the industry.
The province is seeking bids for the project, as well as the construction and other services.
The provincial government announced the project on Monday, saying it would help grow the Alberta economy.
“The oil and natural gas industry is an economic driver that will create hundreds of thousands of jobs across Alberta,” Notley said in a statement.
“We are committed to investing in our energy infrastructure, and this new project is a direct contribution to that.”
Notley added that the project will also help create hundreds more jobs in other industries, including the construction industry, tourism and education.
“This investment will help us to provide more tax breaks to businesses and companies that create and support jobs in Alberta,” she said.
“We look forward to the start of construction on this $600-million, multi-purpose project and we are committed, like many Canadians, to seeing it built and running.”
Alberta Premier Rachel Wexler welcomed the project as an investment in Alberta’s future.
“Alberta is a global leader in its energy industry,” she told reporters.
“This is an important step in that direction.”
The $600.3 billion project is named after former prime minister Brian Mulroney, who introduced the legislation to encourage oil exploration in the mid-1990s.
It was part of the Conservative government’s energy strategy.
The Alberta government says the $1 billion investment is being paid by Alberta’s share capital, which was created by the federal government.
The government says it will provide $400 in tax credits to the developer of the project.