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Suncor's 2010 Capital Spending "Restarts The Growth of Oil Sands"
SUGAR LAND--November 16, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--On Friday, November 13, Suncor Energy Incorporated (NYSE:SU) (Calgary, Alberta) announced capital spending plans for 2010. The company plans to invest approximately US$5.24 billion, with $1.43 billion going to growth projects and the remainder going toward sustaining existing operations. The growth projects include the restart of construction on stages 3 and 4 of the company's Firebag bitumen production facility, leading Suncor President and CEO Rick George to say in a conference call, "This officially restarts the growth of oil sands."
Other companies featured: Jacobs Engineering Group Incorporated (NYSE:JEC)
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Industry Segment: Production
Word Count: 465 Words
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