Edmonton Economic Development Corporation

Edmonton Economic Development Corporation

June 23, 2014 10:30 ET

EEDC Partners With Gascana and GPAC on $4 Billion Investment

Sino Canada Natural Gas Development Initiative Includes Industrial Park and Business Incubator

EDMONTON, ALBERTA--(Marketwired - June 23, 2014) - The product of a collaboration between Gascana AB Energy Ltd (Gascana), Gascana-Sino Industrial Park Administrative Committee Inc. (GPAC) and Edmonton Economic Development Corp. (EEDC), the Sino Canada Natural Gas Development Initiative (SCDI) represents a total investment in excess of CAD $4 billion and will focus on natural gas related industries including refining, upgrading, technology research, and manufacturing through the development of an industrial park and business incubator.

SCDI will include a 1,000-acre Sino Canada Natural Gas Industrial Park in Sturgeon County and a Sino Edmonton Business Incubator in Edmonton, built in three phases over five years. Upon completion, SCDI will achieve CAD $5 billion in annual production and create over 2,000 permanent positions.

"Edmonton Economic Development Corp. has been working with Gascana and GPAC on this significant venture for the past ten months, and believes investments of this magnitude can come together smoothly when the Edmonton Region works collaboratively and with unified purpose. We are the epicenter of the industrial supply chain in western Canada, and our manufacturing, research environmental monitoring, transportation and value-added energy sectors will continue to expand as Chinese demand grows and strong partners like Gascana work with us to localize their investments," says Brad Ferguson, President and CEO of Edmonton Economic Development Corp.

With an equity fund of CAD $30 million, the Sino Edmonton Business Incubator will develop scalable companies with application into targeted Chinese industries and will provide tenants with international market intelligence, incubator office services, mentorship, business advisory services, equity investment opportunity and access to international export and marketing channels.

Gascana, GPAC and EEDC have signed a memorandum of understanding to work collaboratively on the strategy, marketing, recruitment and advocacy for the $4 billion SCDI investment.

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