EDMONTON – Suncor Energy said Wednesday it would not go ahead with its $11.6 billion Voyageur oilsands upgrader project north of Fort McMurray, which had been under construction until 2009.

The company said market conditions for the 200,000 barrel per day upgrader have changed significantly, challenging the economics of the project. It said earlier that the economically challenged project was not a “strategic investment.”

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