December 5, 2016 / 6:22 PM / 2 years ago

CORRECTED-Alberta petrochemical projects get C$500 mln royalty credits

(Corrects to remove Suncor Energy Inc’s Petro-Canada from first paragraph)

CALGARY, Alberta, Dec 5 (Reuters) - The Canadian oil-producing province of Alberta will offer C$500 million ($377.84 million) in royalty credits to Pembina Pipeline Corp and Inter Pipeline Ltd for their petrochemical projects, the government said on Monday as it seeks to diversify its ailing economy.

The government said the companies were the approved applicants of its Petrochemicals Diversification Program, which supports construction of facilities that use propane or methane, components of natural gas, as feedstock to produce materials for products including plastics, detergents and textiles.

$1 = 1.3233 Canadian dollars Reporting by Ethan Lou in Calgary, Alberta; Editing by Andrew Hay

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