SOURCE: Industrial Info Resources

November 16, 2009 05:15 ET

Suncor's 2010 Capital Spending "Restarts The Growth of Oil Sands," an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - November 16, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- On Friday, November 13, Suncor Energy Incorporated (NYSE:SU) (Calgary, Alberta) announced capital spending plans for 2010. The company plans to invest approximately US$5.24 billion, with $1.43 billion going to growth projects and the remainder going toward sustaining existing operations. The growth projects include the restart of construction on stages 3 and 4 of the company's Firebag bitumen production facility, leading Suncor President and CEO Rick George to say in a conference call, "This officially restarts the growth of oil sands."

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