ATCO To Participate in the Athabasca Oil Sands
Project
Tuesday,
December 07, 1999
Calgary,
Alberta - The ATCO Group of Companies today praised Shell Canada Ltd.
and its partners for their leadership in creating the Athabasca Oil Sands
Project.
"This
is a project of heroic proportions by outstanding companies who today
are making a tremendous commitment to our province and our country,"
said ATCO Deputy Chairman Nancy Southern. "ATCO is honoured and proud
to have been selected to partner with Shell and its partners."
ATCO President
& Chief Operating Officer Craighton Twa said ATCO Power, ATCO Pipelines
and ATCO Structures will all play major roles and undertake projects exceeding
$250 million as part of the new oilsands initiative.
"The
ATCO Group of Companies is committed to making this Project,
led by Shell Canada, an outstanding success," said Mr. Twa. "It
offers our Alberta-based companies an opportunity to demonstrate their
wide range of capabilities and expertise."
Mr. Twa announced:
| • |
ATCO
Power will build a natural-gas fired 170-megawatt co-generation power
plant at the Muskeg River Mine, a component of the Athabasca Oil Sands
Project, with more than half the energy produced directed to the Mine
and the remainder — enough to provide electricity for a city
the size of Fort McMurray — into the provincial grid to help
ease power capacity concerns in the province of Alberta. The $200
million facility, equipped with advanced heat recovery technology,
is designed to significantly reduce environmental impact. |
| • |
ATCO
Pipelines will build a $37 million 16-inch line to supply natural
gas to the co-generation facility. The 118-kilometre line is from
an existing transmission system. ATCO Pipelines was created as a separate
business unit last year. |
| • |
ATCO
Structures will manufacture and install workforce housing for 1,700
workers, with possible expansion to 2,200 people, by April 2000.
The $17 million project will feature ATCO Structures "New Generation"
of dormitories, kitchen/dining and recreation facilities.
|
The three
ATCO subsidiaries involved are anxious to start work for the Project team.
"Our
proven power cogeneration capabilities are being implemented in projects
across Canada and around the world," said ATCO Power President Gary
Bauer. "This Project in our home province will significantly reduce
the environmental impact of this oil sands initiative and will also represent
a major source of competitive new power generation which is needed for
the province of Alberta."
ATCO Pipelines
President Doug Graham added that his company is pleased to be the transporter
of natural gas for the project. The pipeline will provide an opportunity
for northern Albertans to see first hand ATCO Pipelines high standard
of environmental stewardship and it will mark the beginning of a long-term
relationship with area residents. "This is a major step forward in
the development of ATCO Pipelines," he said.
ATCO Structures
President Walter Kmet said: "Our 'New Generation' of workforce housing
will make life more comfortable for the 1,700 workers who will build this
project."
The ATCO
Group is engaged in electric power generation, transmission and distribution;
natural gas gathering, processing, transmission, storage and distribution;
workforce housing; industrial noise abatement and technical services and
facilities management.
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For further
information, please contact:
Craighton
Twa
President & Chief Operating Officer,
ATCO Group
(403) 292-7432
|
Doug
Graham
President,
ATCO Pipelines
(403) 245-7500
|
Gary
Bauer
President,
ATCO Power
(403) 209-6903
|
Walter
Kmet
President,
ATCO Structures Inc.
(403) 292-7648
|
Website:
www.atco.ca
Stock symbol: aco.x |
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