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smoothedgeon Jan 30, 2014 3:20pm
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RE:RE:4 million into the till
RE:RE:4 million into the till January 30, 2014 15:00 ET
Orbite Aluminae Inc. Receives Financial Assistance From Government of Canada to Launch Cap-Chat Production Plant
LAVAL, QUEBEC and CAP-CHAT, QUEBEC--(Marketwired - Jan. 30, 2014) - Canada Economic Development
The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that the Quebec firm Orbite Aluminae Inc. has been granted major financial assistance for the acquisition of equipment to start up its high-purity alumina production facility in Cap-Chat.
Orbite Aluminae has developed innovative and proprietary processes for the production of alumina and other high-value elements, including rare earth and rare metal oxides. In addition to conducting technology development at its facilities in Laval, the company has operations in Montréal and in the Gaspésie town of Cap-Chat, where its high-purity alumina production plant is located.
Quick facts
- The assistance has been awarded in the form of $4,000,000 in repayable funding through Canada Economic Development's Quebec Economic Development Program.
- This support will serve to finance the purchase of equipment needed to launch commercial operations at the Cap-Chat high-purity alumina production plant.
- With this project, Orbite Aluminae will become the only producer of alumina in Canada. The company, which is listed on the stock exchange, expects to be in a position to produce three tonnes of high-purity alumina per day at its facility.
- A total of $28,500,000 in investment will be generated to put this plant into operation.
Quote
"By supporting the start-up of Orbite Aluminae's high-purity alumina production facility in Cap-Chat, our Government is acknowledging once again the key role that businesses play in stimulating economic growth and job creation."
Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec
Related link
Orbite Aluminae Web site
Keep up with the latest news from Canada Economic Development by visiting www.dec-ced.gc.ca or subscribing to Twitter @CanEconDev.