CALGARY – Pembina Pipeline Corp. says it is going ahead with its joint venture with Kuwait’s Petrochemical Industries Co. to build an integrated propane dehydrogenation plant and polypropylene upgrading facility in Alberta.
The project is estimated to cost $4.5 billion including the plants and supporting facilities.
Pembina’s share will be $2.5 billion including a 50 per cent interest in the joint venture, which will own the plants, and a 100 per cent stake in the supporting facilities.
The facility will be located adjacent to Pembina’s Redwater fractionation complex and will consume about 23,000 barrels per day of propane.
It will have nameplate capacity of 550,000 tonnes of polypropylene per year.
The facility is expected to be in-service in mid-2023.
Companies in this story: (TSX:PPL)