May 17 (Reuters) - Ampol Ltd (ALD) :
- CONTINUATION OF REFINING AT LYTTON WITH GOVERNMENT SUPPORT
- AMPOL WELCOMES FEDERAL GOVERNMENT'S PROPOSED SUPPORT FOR REFINERIES, WHICH PROVIDES VARIABLE SUPPORT PAYMENT OF UP TO $108M PA FOR LYTTON OPERATIONS
- INTENDS TO CONTINUE REFINING AT LYTTON UNTIL AT LEAST MID-2027
- PACKAGE ALSO PROVIDES FOR FUNDING GRANT OF UP TO $125 MILLION FROM FEDERAL GOVERNMENT TO UNDERTAKE INFRASTRUCTURE UPGRADES
- ENACTMENT OF GOVERNMENT LEGISLATION IS ANTICIPATED EARLY IN 2H
- ALSO SEES WILL GET ONE-OFF SHORT-TERM REFINING SUPPORT PAYMENTS WHICH SHOULD BE IN ORDER OF A$40 MILLION FOR PRODUCTION IN 1H
- WILL ASSESS BALANCE SHEET CAPACITY AFTER LATER OF ENACTMENT OF SUPPORT INITIATIVES AND AMPOL'S 1H 2021 FINANCIAL RESULT
News: ALD Ampol Announces Continuation Of Refining At Lytton With Government Support
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