The government of Canada has made a C$10-million investment in an C$85-million project that will support 520 jobs at aluminium giant Alcoa’s Deschambault-Grondines plant, in Quebec.
The investment would help Deschambault-Grondines to innovate by acquiring new technology that will help it increase production at a lower cost, to better meet market demand, the government said on Wednesday.
"Canadian aluminum 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 Innovation, Science and Economic Development Minister Navdeep Bains in a statement.
The government is investing in Canada's steel and aluminum producer, such as EVRAZ North America, Algoma Steel, ArcelorMittal and Elysis, an Alcoa and Rio Tinto Aluminum joint venture. These investments will ensure that these companies continue to provide thousands of middle-class Canadians with good jobs and to contribute significantly to the economy and manufacturing supply chains.
The Deschambault Aluminerie has been in operation since 1992 and was acquired by Alcoa in 1998. It houses the Aluminum Centre of Excellence, a training hub for Alcoans from all over the world and a centre for the development, transfer and standardisation of best practices in manufacturing management.