Project is expected to provide 1,200 permanent jobs with average salaries of $84,500.
Complex will convert propane into polypropylene for use in automobile parts, containers and Canadian bank notes.
Sixteen local and international applicants vie for $500 million in royalty credits.
Diversification effort provides $500 million in royalty credits to the sector.
Accused of receiving $5.9 million in from auto and petro companies.
Cash and stock transaction is expected to close no later than Jan. 25.
To be located near the company’s Redwater fractionation facility.
Deal expands its product and service lines.