Here is update news on CCRL $1-1.5 Billion expansion to the CCRL Coking Refinery – Upgrader complex. It looks like IAG will be hired for the FCC addition (Mustang Engineering is doing FEED on project) if it goes forward after the 2008 decision as scheduled. This expasion takes capacity from 100 MBD to 130 MBD.
The integrated Upgrader complex next door to refinery started up in 2003 and expansion took CCRL capacity from 50 MBD to 90 MBD but CCRL has always tweaked capacity to make 100 MBD so looks like they have that as base now. (The $600M project ran about $100 million over on cost estimate). CCRL is subsidary of FCL and is Saskatchewan’s only refinery.
Earlier news article in Sept 2007 mentioned that Federated Co-op Ltd (FCL) purchased other 50% ownership of New Grade Energy Inc upgrader from Crown Investment Corp (CIC) – a government holding company that was going to sell it to 3rd party – FCL exercised its first right refusal for $325 million. They claim timing on purcahse of other 50% and expansion is coincidence but …… sure does remove lot operation
problems – like the NewGrade board directors/governance of separate corp entity while adding full synergies from a good money-maker for FCL plus expanded capacity in terms of gasoline & diesel production.
Represents lot of capital outlay for expansion & 50% purchase – but improves the ROI & project potential.
Nothing has been indicated on a coker expansion at refinery or addition to upgrader site.
Regards
