Government of Canada has always been supportive of the country’s steel and aluminium sectors; they being the key driver of the economy. Jean-Yves Duclos, Canada’s Minister of Families, Children and Social Development on behalf of the Ministry of Innovation, Science and Economic Development, announced a US$10 million investment in an US$85 million project at Alcoa's aluminium smelter in Deschambault-Grondines, Quebec. The project, which is expected to create 520 jobs, will be completed by the end of 2021.
Commenting on the investment, Jean-Yves Duclos, Minister of Families, Children and Social Development said, "We are committed to supporting Canadian aluminum workers and the innovative, world-class products they produce. Our investment in the Alcoa Deschambault Aluminerie will help strengthen the competitiveness of the aluminum sector for years to come, maintain Canada's position in the global market and support jobs for middle-class Canadians.”
The fund will be used to help the Alcoa Deschambault Aluminerie buy state-of-the-art technological equipment to enhance production at lower cost to cater to the growing aluminium demand. The Government is also investing in Elysis, an Alcoa Corporation and Rio Tinto Aluminum joint venture. The strategy behind these investments is to ensure employment generation for thousands of middle-class Canadians and revenue generation for the manufacturing supply chain as well as the country.
"Canadian aluminium producers and workers form the economic backbone of communities across the country, including in Quebec. This investment will help Alcoa maintain at least 520 jobs and upgrade its facilities to become more competitive and expand its market reach," said Navdeep Bains, Minister of Innovation, Science and Economic Development.
"The Government of Canada's Strategic Innovation Fund will enable the Alcoa Deschambault Aluminerie to increase its annual aluminum production capacity, while improving the plant's long-term competitiveness on a global scale," said Jean-François Cyr, President, Alcoa, Canada.
This investment is being made through the Strategic Innovation Fund; a program designed to attract and support investments across all sectors of the economy and encourage R&D. The Fund also encourages the transfer of technology and the commercialization of innovative products
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