Following up on a promise to help shield the dominion’s aluminium industry from recent instability, the Canadian government announced a major funding grant for Alcoa’s Deschambault Aluminerie earlier this week.
Speaking on behalf of Minister of Innovation, Science and Economic Development Navdeep Bains, Canada’s Minister of Families, Children and Social Development Jean-Yves Duclos revealed on Wednesday the government’s C$10 million investment in Alcoa’s C$85 million project at the Quebec plant.
Alcoa says the investment will boost innovation at the plant by allowing it to purchase cutting-edge equipment, giving the plant the ability to increase production while improving efficiency. Such improvements will aid it in meeting demand in both the near and long terms, opined Alcoa.
“Canadian aluminum producers and workers form the economic backbone of communities across the country, including in Quebec,” Baines explained. “This investment will help Alcoa maintain at least 520 jobs and upgrade its facilities to become more competitive and expand its market reach.”
“We are committed to supporting Canadian aluminum workers and the innovative, world-class products they produce,” said Duclos. “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.”
Alcoa Canada president Jean-François Cyr noted the benefits of the investment and the project to both his firm and the wider economy.
“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. This investment will help preserve high-quality jobs for our employees and subcontractors, benefiting the entire community of the greater Portneuf region.”
Built in 1992, the Deschambault Aluminerie plant was acquired by Alcoa in 1998 and boast a nameplate capacity of 253 thousand metric tons per annum.