Finning-Shell deal sign of growing oilsands investment

There was another sign Thursday of renewed investment in Alberta'soilsands.

Vancouver-basedFinning International Inc.saidit is sellingseven Caterpillar mining trucks and nine tractors to Shell Canada Energy of Calgary.

The Caterpillar dealer didn't disclosethe financial terms of the sale for competitive reasons.

However, ingeneral, acontract of that size would be worth between $50 million and $60 million, a company spokesperson said.A single truck cancost about $6 million and carry about 400 tons of bitumen-soaked sand.

The Caterpillar 797 truck and D11bulldozer will be delivered later this year to Shell's Albian operations at the Muskeg River Mine in Alberta's oilsands.A Shell spokesperson said the equipment would be used to expand not just replace its fleet.

The mine is part of a joint projectinvolvingShell Canada, Chevron Canadaand Marathon Oil Corporation.

Finning is the world's largest Caterpillar equipment dealer, with operations in Western Canada, Chile, Argentina, Bolivia, Uruguay, and the United Kingdom.

Investment in Alberta'soilsands has received several boosts recently. Calgary-based Suncor Energy said on Nov. 13it was budgeting $5.5 billion for capital spending in 2010, including an expansion of itsFirebag oilsandsproject north of Fort McMurray, Alta. PetroChina in September bought positions in two projects run by Athabasca Oil Sands Corporation.