By Canadian Press

Province assisting Calgary company build bitumen upgrader

Jan 22, 2019 | 2:05 PM

The Alberta government is helping a Calgary-based company build a new bitumen upgrader as part of its plan to diversify the energy sector.

Premier Rachel Notley says the province is providing a 440-million dollar loan guarantee to Value Creation Incorporated for the project — but that is the only provincial support it’s receiving.

Notley says the two-billion dollar project near Edmonton will create more than two-thousand jobs during construction and another 200 full-time positions once the facility is up and running, which is expected in 2022.

Value Creation says the upgrader would convert diluted bitumen into an ultra low sulphur diesel and medium synthetic crude that can more easily flow through pipelines