Province to invest $1 billion in bitumen upgrading projects
EDMONTON, AB — The provincial government has announced a large investment into its oil industry.
During a news conference on Monday, the government announced it will be investing $1 billion over the next eight years in oilsands bitumen upgrading. The money will be used for loan guarantees and grants The investment will begin next year.
“This process will help us get full value from our resources, attract billions in investment and create thousands of jobs right here in Alberta,” said Premier Rachel Notley during the press conference.
“Albertans are right to want more done with their energy resources,” said Notley. “More jobs here in Alberta. More upgrading here in Alberta, and more value, wealth and prosperity here in Alberta.”