Pembina Pipeline Corp. said that it, along with Petrochemical Industries Company K.S.C. or “PIC” of Kuwait, has reached key milestones for the proposed integrated propylene and polypropylene production facility in Sturgeon County, Alberta.
Pembina and PIC have executed 50/50 joint venture agreements that includes binding commercial terms in support of the Project and have formed a new entity, Canada Kuwait Petrochemical Corporation or “CKPC”. Additionally, Pembina said that CKPC will proceed with activities for front end engineering design or “FEED” for the Project.
The decision to proceed with FEED, execution of definitive Joint Venture agreements and the establishment of CKPC represent major milestones for Pembina and PIC. Deliverables of FEED include a refined capital cost estimate, a project execution plan, regulatory applications, an updated construction schedule and projected in-service date, among numerous other items.
The proposed PDH/PP Facility is expected to consume 22,000 barrels per day of Alberta-produced propane, which is expected to be sourced from Pembina’s Redwater Fractionation Complex or “RFS”, as well as other regional facilities. The Project is anticipated to produce in excess of 1.2 billion pounds per year of polypropylene which would be transported to North American and global markets. Subject to required approvals and a positive FID, the Joint Venture expects to construct the PDH/PP Facility in close proximity to RFS in Sturgeon County, part of Alberta’s Industrial Heartland. The preliminary capital cost estimate of the Project is $3.8 – $4.2 billion.
Source: RTT News
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