Nova Chemicals investing $300M in Ontario; mulling new $1B plant
Company considering Sarnia-Lambton area for second world-scale polyethylene plant, CEO said
SARNIA, Ont.—Nova Chemicals says it’s moving forward with several projects in the area of Sarnia, Ont., and is still evaluating options for a new $1-billion polyethylene plant.
Nova says growth is expected to take place between 2014 and 2018, and the investment will include several expansions and upgrades to its facilities in the area.
The projects include expanding the Corunna cracker ethylene manufacturing capacity by about 20 per cent, work on the Moore low-density polyethylene line, and a retrofit of the Moore high-density line.
Nova CEO Randy Woelfel says the projects could cost more than $300-million.
Woelfel says Nova will continue to investigate options for a second world-scale facility that could be located in Sarnia-Lambton, the U.S. Gulf Coast or elsewhere in the world.
Economic Development Minister Eric Hoskins applauded Nova’s investment in Sarnia-Lambton, saying it will sustain about 1,000 direct full-time and contractor jobs.
“This is a vote of confidence for Ontario and for the manufacturing sector that is so important to the region and our economy,” Hoskins said in a release.
Nova is one of North America’s largest producers of polyethylene, the single largest plastic used globally.