LLOYDMINSTER UPGRADER FINANCES AT ISSUE

The federal and Alberta governments and Husky Oil Ltd. have agreed to provide interim financing to continue construction of a $1.6 billion heavy oil upgrader at Lloydminster, Sask. The Saskatchewan government, also a partner in the upgrader, has balked at providing more funds. Husky disclosed in April a $190 million cost overrun on the project in addition to a $175 million overrun in 1991. Ottawa owns a 31-2/3% interest in the project, Alberta 24.17%, Saskatchewan 17.5%, and project operator

May 18th, 1992
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