CIAC: NOVA CHEMICALS’ $2 BILLION ONTARIO INVESTMENT BRINGS CANADIAN INNOVATION TO NORTH AMERICAN MARKETPLACE
–ONTARIO GOVERNMENT TO CONTRIBUTE UP TO $100 MILLION–
Chemistry Industry Association of Canada (CIAC) today welcomed the news that NOVA Chemicals will invest $2 billion towards a new facility in Ontario. The funds, representing the single largest business investment in the Sarnia-Lambton region, will go towards the building of a new polyethylene facility and the expansion of its Corunna Site ethylene cracker. CIAC also thanked the Province of Ontario for its contribution of $100 million to the project. The investment will create 2,000 direct and indirect jobs over the first 10 years of the project alone, and will result in a further 25 per cent reduction in greenhouse gas emissions intensity from 2016 levels.
NOVA Chemicals is one of North America’s largest producers of polyethylene, the most widely used plastic material in the world. Polyethylene resins are used in applications such as food packaging; injection molding applications including caps and closures; and in rotational molding applications like dumpsters and industrial storage containers.
The new polyethylene facility will bring the innovative, next generation of NOVA Chemicals’ highly advanced, proprietary manufacturing technology platform to Ontario (Advanced SCLAIRTECH™ technology).
“Few can appreciate just how much effort is required to realize an investment of this size in Canada today,” said Bob Masterson, President and CEO of CIAC. “The global competition to attract investment is intense. We are delighted that NOVA Chemicals decided to make its investment in Sarnia, Ontario,” continued Masterson. “We also recognize the importance of Minister Brad Duguid’s support for this investment and the assistance provided to NOVA Chemicals through the Province of Ontario’s Jobs and Prosperity Fund program.”