Canada to catalyze innovation in chemical sector

Canada is investing $35 million in NOVA Chemicals Corp, which recently invested $2.2 billion in foreign direct investments to grow its chemicals and plastics manufacturing business in Ontario and Alberta. NOVA Chemicals is setting up a new polyethylene facility and expanding its existing ethylene production in Ontario, a project that is estimated to grow the Ontario facility by more than 50%. The company will also develop new catalyst manufacturing capabilities in Alberta. Target completion of all these is 2022. The government said it is investing in the chemical company to help promote innovation in the chemical sector and help NOVA Chemicals create clean products. The funding will come from the Strategic Innovation Fund. The project is expected to help generate and maintain 2,200 jobs, including over 200 permanent full-time R&D personnel, in the two provinces. NOVA Chemicals will collaborate with local colleges and universities to carry out research, and provide work-integrated learning experiences for students.