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Petro-Canada acquired from El Paso Corporation a 51% indirect interest in Coastal Petrochemical, L.P., a limited partnership between a subsidiary of Société générale de financement du Québec (SGF) and an indirect subsidiary of El Paso Corporation, for approximately CDN$90 million (which includes working capital). Petro-Canada will hold 51% of the limited partnership and SGF will continue to own the remaining 49% interest. The Coastal Petrochemical facility, located in Montréal, Québec, primarily produces paraxylene, which is used to manufacture polyester and plastic bottles.

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2005