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The private firm that co-owns and will operate the Sturgeon facility – Canada’s first new refinery project in decades – has reportedly engaged an investment bank to advise shareholders who want to sell off their stakes.
An AltaCorp Capital Inc. note on the privately owned North West Refining Inc. said the total construction cost of Phase 1 of the Sturgeon refinery, located northeast of Edmonton, is expected to be as much as $9.5-billion – up from the long-time cost estimate of $8.5-billion.
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- Updated June 23 4:00 PM EDT. Delayed by at least 15 minutes.
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