NOVA announced plans for a series of polyethylene plant modernization and expansion projects in the Sarnia, ON region.

NOVA announced plans for a series of polyethylene plant modernization and expansion projects in the Sarnia, ON region. The projects will add a total of up to 250 million pounds per year of new polyethylene capacity in stages over the next two years. "These projects should have about a two-year payback and will generate meaningful earnings growth for our shareholders in every part of the industry business cycle," said Lipton.The projects include: upgrading products; improving reliability and expanding the Iow-density polyethylene unit at Mooretown, ON, optimizing the high-density polyethylene unit at Mooretown to increase throughput rates and improve product quality; and debottlenecking high-density polyethylene and linear Iow-density polyethylene production at the St. Clair River site at Corunna, ON.

The projects are now feasible because the Corunna flexi-cracker modernization completed in 2007 has successfully delivered greater ethylene capacity, increased energy efficiency, improved plant reliability, and global cost competitiveness.The total cost of the projects will be approximately $80 million, which will not result in a material change in the company's overail capital program. The projects will require appropriate board of directors approvals as they proceed.