Alberta Defies Trudeau With Grant Offers to Petrochemical Firms
- Province to offer grants covering 12% of plant capital costs
- Petrochemical expansion may conflict with federal policy
Photographer: Jimmy Jeong/Bloomberg
This article is for subscribers only.
The gas-rich province of Alberta will help cover the capital costs of new petrochemical plants, a move that pushes back against the federal government’s efforts to cut the use of plastic.
Once a plant is built and running, companies can apply for grants worth 12% of capital costs, according to a statement Friday by the provincial government. The program aims to attract tens of billions of dollars in new investment to the petrochemical industry in an attempt to diversify the Alberta economy away from oil and gas, it said.