Inter Pipeline says it hopes to conclude its search for a partner in its $4-billion petrochemical project now under construction near Edmonton in the first half of next year.

The provincial government Friday that it is launching its Alberta Petrochemicals Incentive Program, plans for which were first announced this summer.

The new program won't be a competition. All projects that meet requirements set out by the province will be eligible to receive funding.

Inter Pipeline Ltd. is warning that the cost of building its Heartland Petrochemical Complex has risen by about half a billion dollars and its in-service date may be delayed due to factors including the impact of the COVID-19 pandemic.

The estimated cost is now about $400 million more than original estimates.

Premier Jason Kenney says an international consortium is eyeing up the Edmonton region for a perspective $10-billion investment in a new petrochemical facility.

One of Canada's largest producers of plastics says there will be plenty of room for future growth in output despite a proposal by Ottawa to ban certain single-use plastic products by 2021.

The plants' plastic pellets will be sent by rail and shipping containers to manufacturers around the world to be turned into recyclable products.

Imperial says the profit amounted to $1.08 per diluted share for the last three months of 2018 compared with a loss of 16 cents per diluted share in the fourth quarter of 2017, which included $566 million of upstream asset impairments.

"Even in a low-carbon future, you're going to see a huge demand for petrochemicals and that's good for the future of Alberta and the oil and gas industry,'' he said.