Article content

Slowly, but surely, the province’s plan to entice companies to build large petrochemical plants in Alberta is plodding ahead.

It may seem painfully slow at times, but at least it’s moving in the right direction.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Varcoe: Alberta's petrochemical dreams edge closer to reality Back to video

More importantly, proponents and industry analysts believe the opportunity window is now open and the economics appear sound — potentially triggering more than $6.9 billion of investment into Alberta’s energy sector.

On Monday, a proposed propylene and polypropylene production complex to be built in Alberta’s Industrial Heartland area took a step forward.

Calgary-based Pembina Pipeline Corp. announced the signing of a formal joint venture agreement with partner Kuwait-based Petrochemical Industries Co.

The two businesses created a new company, known as Canada Kuwait Petrochemical Corp., and are proceeding with front-end engineering work for the propane dehydrogenation and polypropylene upgrading facility in Sturgeon County, northeast of Edmonton.