OTCPK:ICPVF - Post by User
Comment by
roberto146on Nov 29, 2020 12:06pm
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Post# 31996770
RE:RE:RE:TheBridge
RE:RE:RE:TheBridge"7 months later there is no update."
I chose to refer to the 9/30/2020 Financial Report and MD&A that were released Nov 12, 2020, about 2 weeks ago, rather than just guess.
About public/private financing:
In December 2016, the Alberta Government's Petrochemical Diversification Program granted $200MM royalty credits to IPL, to be available upon Completion of the Project. The royalty grants could then be sold by IPL to energy producers for cash.
This indicates that the project was ~95% financed by private funds, with ~5% to be financed by incentive grant (i.e. not direct cash payment by Alberta. If the project were not completed, no royalty grant would be given). If there are other grants or payments I missed, please advise.
About the schedule:
A decision by IPL to proceed with the project was expected to be made by mid-2017, with the project completion expected by mid-2021. The decision to proceed was actually announced in December 2017, with construction commencing early 2018 and completion estimated to be late 2021, at a cost of 3.5 Billion dollars.
These news releases are available on the IPL website, under 'News Releases'.
Financial Reports are available under 'Investors'/'Financial Reports'.