The Alberta government on Monday awarded a C$408 million ($326 million) grant to Inter Pipeline Ltd. for new industrial projects that use natural gas and its liquid byproducts as raw materials.

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Inter Pipeline is receiving the grant through the Alberta Petrochemicals Incentive Program (APIP) in three annual installments after the scheduled completion of its C$3.9 billion ($3.1 billion) Heartland Petrochemical Complex near Edmonton in early 2022.

The plant would consume 22,000 b/d of propane to make 525,000 tons/year of polypropylene, an intermediate mainstay for manufacturing a wide array of synthetic end products from auto and television parts to medical and sports hardware.

Calgary-based Inter Pipeline predicted its complex, a first for Canada, would have 65% less greenhouse...