The amount includes $100 million contributed by the Province of Ontario under the Jobs and Prosperity Fund program. It stands as the single largest business investment within the Sarnia-Lambton region.
With the funds, the plastics and chemicals supplier will construct a new polyethylene plant and expand its ethylene cracker in its Corunna Site. The plant will be the first in the province to integrate Advanced SCLAIRTECH technology.
“Few can appreciate just how much effort is required to realize an investment of this size in Canada today,” said CIAC president and chief executive Bob Masterson. “The global competition to attract investment is intense. We are delighted that NOVA Chemicals decided to make its investment in Sarnia.”
Supported by Liberal cabinet minister Brad Duguid among others, the project will provide 2,000 job opportunities during its first 10 years. Upon completion, it is expected to reduce the manufacturing facility’s greenhouse gas emissions by 25 per cent, from 2016 levels.
To obtain more details about the project, CIAC communications director Erika Adams has been assigned as point of contact. She can be reached by email at email@example.com or by phone at 613-237-6215 ext. 241.
NOVA Chemicals has been described in the announcement as one of North America’s biggest manufacturers of polyethylene. In Canada, it maintains its headquarters in Calgary and also has executive offices in Pittsburgh, Pennsylvania, and Lambton.