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Canadian Natural in joint proposal for bitumen refinery
TORONTO (Reuters) - Canadian Natural Resources Ltd , the country's largest heavy oil producer, said on Thursday it has submitted a joint proposal with a smaller partner to the Alberta government to build and operate a bitumen refinery northeast of Edmonton, Alberta.
Canadian Natural said it would hold a 50 percent interest in the venture, which it has entered into with North West Upgrading Inc.
The company said it has also agreed, subject to conditions, to acquire 50 percent of the assets of North West Upgrading.
Closing of the deal is targeted for later in 2010.
(Reporting by John McCrank; editing by Peter Galloway)
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