NOVA Chemicals investing in $2 billion project with Government of Canada funding

Ontario NOVA chemical plant

NOVA Chemicals project will help create and maintain 2,200 jobs in Ontario and Alberta

NOVA Chemicals announced a $2.2 billion investment in Canada with innovative and cleaner products that will help create and maintain 2,200 jobs in Alberta and Ontario, according to a press release.

Navdeep Bains, Minister of Innovation, Science and Economic Development, announced an investment of $35 million in NOVA Chemicals under Canada’s Strategic Innovation Fund.

Bains made the announcement in Davos, Switzerland, as a part of his participation at the World Economic Forum.

“In addition to helping create and maintain 2,200 jobs in Ontario and Alberta, the Strategic Innovation Fund investment in NOVA Chemicals will further R&D and innovation and will result in more environmentally friendly chemical production,” said Navdeep Bains, minister of innovation, science and economic development.

The funded project involves establishing a new polyethylene facility and expanding an existing ethylene facility in Ontario, and developing new catalyst manufacturing capabilities in Alberta, with anticipated completion of the project by 2022.

Canada’s $47-billion chemistry industry operates in every province, with key clusters in Ontario, Alberta and Quebec.

Each job in the industry creates five jobs in other industries. The sector directly employs more than 87,000 Canadians and supports another 435,000 Canadian jobs.

“With our multi-billion dollar investment in Canada, we will expand NOVA Chemicals’ facilities in Ontario by over 50 percent, further develop our proprietary technology, and grow our already significant R&D and innovation capabilities in both Alberta and Ontario,” said Naushad Jamani, Senior VP, olefins and feedstocks, NOVA Chemicals.

NOVA Chemicals will also partner with local colleges and universities to conduct research and create work-integrated learning experiences that will give local students the skills they need to become job-ready.

“We are grateful to the federal government for its support and are proud to enhance our asset base in Canada, provide stable, high-paying jobs and help make Canada an even bigger global player in the petrochemicals industry,” said Jamani.