Canada and Quebec awarding $2.8 million to FjordAl Aluminium for its new aluminium rod manufacturing plant

According to a report, the governments of Canada and Quebec are providing a financial assistance of $2.8 million to FjordAl Aluminium for starting up an aluminium rod manufacturing plant in the Jonquière sector of Saguenay. The total value of the project is $6.6 million and will expectedly create 20 new jobs.

The Government of Canada is awarding a repayable contribution of $1 million under CED's Quebec Economic Development Program, while the Government of Quebec's assistance consists of two loans - $990,000 from Investissement Québec's own funds and $790,000 from the ESSOR program by the Ministère de l'Économie et de l'Innovation.

Richard Hébert, Member of Parliament for Lac-Saint-Jean and Parliamentary Secretary to the Minister of Small Businesses and Export Promotion, said: "The establishment of this new plant in Jonquière contributes to the strategic positioning of Saguenay–Lac-Saint-Jean and Quebec as a regional aluminium processing sector. 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 Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, said: "The Government of Canada is committed to investing in entrepreneurship to grow the economy and increase the prosperity of Canadians, which is why we are supporting the start-up of the FjordAl Aluminium plant, which will create quality jobs in the Saguenay‒Lac-Saint-Jean region."

"Aluminium processing is one of Saguenay–Lac-Saint-Jean's niches of excellence, and it benefits from the synergy and close relationships among the companies. The presence of a complete supply chain facilitates the implementation of innovative projects such as the one by FjordAl Aluminium. All the conditions are right for making this project a true success, and the government is pleased to contribute to it," added Pierre Fitzgibbon, Minister of Economy and Innovation and Minister responsible for the Lanaudière region.