CIAC welcomes enhanced support for petrochemical upgrading in Alberta
November 20, 2018
The Chemistry Industry Association of Canada (CIAC) is very pleased that the Alberta Government has enhanced its support for petrochemicals upgrading through the Petrochemical Diversification Program (PDP) by announcing today an additional $600 million for the program and an additional $500 million to the feedstock infrastructure program.
Today’s announcement effectively doubles the funds available to attract new investment in value-added chemical manufacturing.
With 23 project applications submitted to the government worth over $60 billion in this round of applications, it is clear that the investment potential in the chemistry sector is enormous. CIAC applauds the Alberta government for recognizing the potential of this growing industry.
These projects will help transform Alberta’s natural resources into high-value products that enable Canadians’ modern and more sustainable lives. More than 95 per cent of all manufactured products rely on chemistry, from packaging that keeps our food fresher for longer, to medical supplies, to wind turbines.
“By adding value to Canada’s low-carbon energy resources, the chemistry sector can help Canada take a leadership position in meeting global climate challenges. In order to achieve these goals, we must ensure our chemistry industry is competitive,” said Bob Masterson, President and CEO of CIAC.
“The Alberta government’s commitment to supporting investment in the chemistry sector serves as a model for the rest of Canada.”
During the construction phase as well as in the long term, these projects will provide good-paying jobs to Albertans. In Canada, the chemistry sector is responsible for 87,300 jobs and supports another 525,000.
CIAC looks forward to working with the Alberta government in the coming months as the final projects for the second round of PDP are announced.