Keltic Petrochemicals receives Federal Environmental Approval



    TOWN OF GUYSBOROUGH, NS, March 7 /CNW/ - After an extensive review, the
federal government has granted approval to Keltic Petrochemicals Inc. (Keltic)
to proceed with the C$4.5 billion integrated petrochemical project planned for
Goldboro, Nova Scotia.
    "This project has undergone rigorous review by all levels of government
and the public," said Company President, Kevin Dunn. "The conditions placed on
the federal approval, together with the conditions placed on the approval at
the provincial level, will ensure the facility will be constructed and
operated in an environmentally sound manner," he added. Included in the
conditions of approval is the requirement for the company to submit further
documents to be reviewed by various regulatory agencies, including an
environmental protection plan, a site security plan, a marine simulation
exercise and a marine terminal manual, in addition to provisions for an
emergency evacuation plan.
    Keltic is pursuing the project in strategic partnership with
LyondellBasell Industries, a global leader in polyolefin technology,
production, and marketing. When completed, the facility will consist of
ethylene, polyethylene, propylene, and polypropylene plants as well as a
supporting cogeneration plant.
    Lloyd Hines, Warden of the Municipality of the District of Guysborough
said, "I congratulate Keltic for their perseverance in bringing this project
forward. This is a great announcement for our community and for our province.
This project will bring many benefits to the county during both the
construction and operations phases."
    "This is good news for Keltic. Keltic still has a lot of work to do but
we're up to the challenge and looking forward to an exciting next few years,"
noted Mr. Dunn.

    About Keltic

    Keltic Petrochemicals Inc. was formed in March 2000 by W. Kevin Dunn, a
native Nova Scotian and long-time Calgary area businessman. Mr. Dunn witnessed
the unprecedented growth in Alberta as a result of developments in the oil and
gas industry and recognized the potential for similar opportunities in his
home province. Keltic's plan to develop, construct, and operate a world scale
petrochemical plant in Goldboro, Nova Scotia, will be the first of its kind in
Atlantic Canada. In March 2006, MapleLNG Limited, a corporation owned by 4Gas
North America and Suntera Canada Ltd, purchased the LNG portion of the overall
project from Keltic Petrochemicals.




For further information:

For further information: Kevin Dunn, President and CEO, Keltic
Petrochemicals Inc., (902) 422-4557, www.kelticpetrochemicals.ca

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KELTIC PETROCHEMICALS INC.

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