Latest Breaking News On - Heartland petrochemical project - Page 1 : comparemela.com

3 Min Read CALGARY, Alberta (Reuters) - Canada’s Inter Pipeline Ltd, which is fighting a hostile takeover bid from Brookfield Infrastructure Partners, on Thursday said it has signed contracts with buyers for 60% of production from its Alberta petrochemical plant. The C$4 billion ($3.20 billion) Heartland Petrochemical Project has emerged as a central asset in Brookfield’s bid to buy the Calgary-based energy infrastructure company. Inter says the Heartland plant will open up new markets and boost earnings, but cost overruns and slow progress in securing buyers for the polypropylene pellets it will produce have weighed on the company’s stock. Chief Executive Christian Bayle said the contract announcement made Inter more valuable.

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