– Canada’s provincial government will approve $4.8 billion to help Canada’s chemical industry.
The announcement came Friday from Premier Jim Prentice.
It was part of a new $2 billion plan to fund the construction of a liquefied natural gas (LNG) terminal at the Canadian Pacific Railway’s Fort McMurray, Al., refinery.
The federal government has committed $2.5 billion to the LNG terminal project, which would be built by Alberta’s Enbridge.
The new government will have to approve the funding, but it’s expected to be announced as early as next week.
The new provincial government has also committed $600 million to help with infrastructure projects.
The province’s finance minister said the money will go to new facilities and the provincial government’s new director of oil and gas.
The provincial government is responsible for a share of the project’s costs.