Posted AT 10:19 PM EDT on 06/12/06
Oil sands partners to build in China as costs soar
Costs for the oil sands project of
Synenco Energy Inc. and
China Petroleum & Chemical Corp. have surged 160 per cent and the companies plan to build key components in China to try to control spending.
Calgary-based Synenco Wednesday said the mining and extraction portion of the Northern Lights project could cost $4.4-billion, more than double a previous estimate of $1.7-billion.
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