Feds, Quebec invest $2.78M in start-up of new aluminum plant
June 27, 2019 by Manufacturing AUTOMATION
June 27, 2019 – The governments of Canada and Quebec are investing $2.78 million in FjordAl Aluminium to assist in the start-up of an aluminum rod manufacturing plant in the Jonquière sector of Saguenay, Quebec.
The project, valued at $6,590,000, will create 20 jobs.
The plant will produce aluminum rods of various alloys and diameters. Those rods, produced using a continuous casting process, can be used for a number of purposes, including electrical transmission, welding, and for manufacturing rivets, nails, screws, bolts, fencing, antennae, and zippers.
FjordAl Aluminium is aiming to reach a production capacity of 15,000 metric tonnes after two years of operation.
“The establishment of this new plant in Jonquière contributes to the strategic positioning of Saguenay–Lac-Saint-Jean and Quebec as a regional aluminum processing sector,” said Richard Hébert, MP for Lac-Saint-Jean and parliamentary secretary to the minister of small businesses and export promotion, as he made the announcement on behalf of Navdeep Bains, minister of innovation, science and economic development. “I am pleased with CED’s support for a company like FjordAl Aluminium, which exemplifies the vitality and innovative spirit that characterize the region.”
The federal government is awarding a repayable contribution of $1 million under CED’s Quebec Economic Development Program. The provincial government’s assistance consists of two loans: one for $990,000 from Investissement Québec’s own funds, and a second one for $790,000 from the ESSOR program by the Ministère de l’Économie et de l’Innovation.