Alberta’s Industrial Heartland Association says experts see renewed confidence in energy sector

by Morinville News Staff

A capacity crowd heard from industry speakers from across the continent Thursday on trends in energy sector innovation and investment.

Alberta’s Industrial Heartland Association (AIHA) hosted the annual event, bringing together more than 600 business, industry, and government leaders.

The key focus of the event was investor confidence, and several project announcements, infrastructure approvals, and investment-spurring government programs were cited to show what the association sees as the likely near-term future growth.

“Investment is happening across the globe. Companies are spending money where the opportunity is greatest,” said Ed Gibbons, Chair of Alberta’s Industrial Heartland Association, in a release Thursday afternoon. “We know Alberta has challenges. We also know that Alberta’s Industrial Heartland is an invaluable energy hub and the country’s largest hydrocarbon processing region. When you consider the energy sector projects that have recently taken a step forward, you can’t help but feel that momentum is building and investors are taking note.”

The event highlighted $9 billion in proposed investment, including two companies with plans to build major propane processing facilities in the region – Inter Pipeline Ltd. and Pembina Pipeline Corporation – both provided highlights of their current activities.

AIHA says the projects, combined with ATCO Power’s planned Heartland Generating Station represent a total proposed capital investment of approximately $9 billion and 6,000 jobs for the region.

The $9 billion joins another $10.2 billion in recently-completed or industrial projects already underway, including the $8.5 billion Sturgeon Refinery.

“Alberta’s Industrial Heartland is helping prove that Alberta is the energy leader the world needs for the 21st century,” said Minister of Economic Development and Trade Deron Bilous. “Their commitment to innovation and collaboration made it possible to create thousands of jobs and attract major capital investments through initiatives like our Petrochemical Diversification Program. Together we will continue building an economy for the future.”

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