The federal and Alberta governments struck a deal to sell for $74 million their shares in the $1.6 billion Lloydminster heavy-oil upgrader to their two partners in the facility, the province of Saskatchewan and Husky Oil Ltd. of Calgary.
The two governments said they had lost nearly $1 billion in the upgrading megaproject, an election promise made during the 1988 federal campaign by Brian Mulroney’s Tories.
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