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Alberta finances $80M in royalty credits for new methanol plant

February 20, 2019 – 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.

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.

News from © The Canadian Press Enterprises 2019