Dec 7 (Reuters) - Veresen Inc VSN.TO :
* Announces approval of the $715 million tower rich gas processing complex and
2016 guidance
* For 2016, Veresen is forecasting distributable cash in the range of $0.94 to
$1.08 per common share
* Says Veresen midstream will fund 55% to 60% of tower's construction costs
with its existing $1.275 billion credit facility
* Cutbank ridge partnership has sanctioned the $715 million tower rich gas
processing complex
* Says for 2015, Veresen maintains its previously announced distributable cash
guidance of $0.99 to $1.07 per common share
* Says Veresen now has $1 billion net of growth projects under construction
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