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Alberta government giving new methanol plant $80M in royalty credits

Alberta government giving new methanol plant $80M in royalty credits

Alberta is giving $80 million in future royalty credits for construction of a new methanol plant in the province’s northwest.

Premier Rachel Notley says Nauticol Energy is to start construction on the $2-billion plant near Grande Prairie next year with an opening set for 2020.

She says the project is expected to create 3,000 jobs.

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Global News

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The NDP government has been announcing financing as part of a made-in-Alberta strategy to support diversification in the energy sector.

Calgary-based Nauticol announced last fall plans for the new plant, with support from the Western Cree Tribal Council.

Methanol is used in making products such as paint, plastic, electronics, shoes and furniture and is used widely in energy applications such as biodiesel.

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“Nauticol’s major investment in the Peace region means thousands of good jobs and more upgrading of our raw resources into the products the world needs right here at home,” Notley told a news conference in Grande Prairie on Wednesday.

“By seizing these opportunities today, we’re making sure our kids and grandkids have new opportunities in a stronger, more diversified energy sector.”

© 2019 Global News, a division of Corus Entertainment Inc.

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