- Corporate News
NOVA Chemicals to invest CAD 2 billion in two large-scale projects in Sarnia
NOVA Chemicals Corporation, based in Calgary, Alberta, Canada, announced two significant growth projects for its Ontario operations, involving a capital investment expected to exceed CAD 2 billion (USD 1.55 billion). This brings industry-leading manufacturing technology to Ontario, with improved product performance and increased energy efficiency.
The announcement marks the addition of two new large-scale capital investments in the Sarnia-Lambton region. The expansion of NOVA Chemicals’ Corunna cracker by approximately 50% will provide ethylene feedstock to a new polyethylene facility, NOVA Chemicals’ second Advanced SCLAIRTECH™ technology facility (AST2). The AST2 facility is designed to increase NOVA Chemicals’ polyethylene production capacity by approximately 950 million pounds (450 kilotons) per year. Site preparations are currently underway for both projects, with start-up targeted for late 2021.
“We are pleased to be moving forward with this growth opportunity and thankful for the support from the provincial government. With this investment, we are bringing innovation to the North American and global marketplace, investing in our highly skilled people and creating a solid future for the communities in which we operate. This was made possible by our talented teams across Canada, the strong support of the community and collaboration with Ontario,” said Naushad Jamani, senior vice president, Olefins and Feedstocks, NOVA Chemicals.
Earlier this year, NOVA Chemicals acquired the Geismar Olefins Facility located in Louisiana, in the United States, an operating facility with positive cash flow and significant opportunity for future growth.
An additional opportunity to help meet the growing consumer demand for polyethylene continues to progress. Specifically, the proposed joint venture with Borealis and Total involving Total’s existing Bayport, Texas, U.S.A. polyethylene facility, development of a new light feed cracker in Port Arthur, Texas, U.S.A., and a new Borstar® technology polyethylene facility in Bayport, with expected start-up in 2020.
NOVA Chemicals is wholly-owned ultimately by the Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.