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Capital Expenditures
Capital expenditures in 2008, representing the Fund’s 50% interest, were $23.3 million (2007 – $17.9 million), including $5.2 million (2007 – $9.1 million) in maintenance capital expenditures and $18.1 million (2007 – $8.8 million) in enhancement capital. Capital expenditures were higher than expected due primarily to higher maintenance capital expenditures. Capital expenditures in 2008 were focused on the implementation of the SAP Core System and the BC Expansion project, as well as regular system maintenance. In 2009, Alliance Canada expects the Fund’s 50% share of its capital expenditures to be approximately $1.8 million.