The Prime Minister of Quebec, François Legault, announced on Friday in Sept-Îles on Friday an agreement which ensures the electrical supply of the Alouette aluminum until 2045. For his part, the president and the head of the company’s management, Claude Gosselin, confirms an investment of $ 1.5 billion in order to modernize his facilities.
Alouette aluminum is committed to investing $ 750 million by 2030, and will continue to invest in its facilities until 2045, totaling an investment of $ 1.5 billion over 20 years.
Today’s announcement […] pave the way for the next decades for our current and future employees, our communities and our business partners
note Claude Gosselin, by press release. The president of Alouette salutes The collaboration of the Government of Quebec and Hydro-Québec
.
The agreement announced by François Legault is based on a principle of risk sharing pricing. In this same press release, it is written that The revised formula will generate more benefits for Hydro-Québec when the aluminum market is more favorable, without increasing financial risks in more difficult times
.
Twenty percent of aluminum produced in Quebec come from Alouette, which provides 630,000 tonnes of aluminum annually.
Photo: Radio-Canada / Alban Normandin
Since June 4, the industry has been affected by the increase in American customs duties at 50 % on aluminum imported in the United States.
An investment important
In a press briefing, the Prime Minister of Quebec assured that the agreement concluded of very good repercussions
For the provincial government, as well as for Quebecers.
We come to guarantee 1000 jobs at $ 110,000 per year on average.
The executive vice-president of Hydro Québec, Dave Rhéaume, was also present during the announcement on Friday.
Photo: Radio-Canada / Alban Normandin
[Aluminerie Alouette] will invest in its productivity, in its effectiveness, it will be able to pay a higher electricity price
indicates the vice-president of commercial activities at Hydro-Québec, Dave Rhéaume. He claims that this agreement will bring more income for the state -owned company.
A few months ago, Alouette said he was ready to invest a billion dollars, provided that Hydro-Québec is ready to revise her prices in a supply agreement. The previous agreement, signed in 2017, was going to expire in 2029.
According to the president of Alouette alumina, negotiations with the government and Hydro-Québec led the industrialist to invest $ 500 million more than promised. The government had certain expectations, we had certain expectations, then we agreed at the end: what you have was 1.5 billion
indicates Claude Gosselin.
The Minister of Economy, Innovation and Energy, Christine Fréchette, and the Minister of Employment, responsible for the North Coast region, Kateri Champagne Jourdain, were present during the Prime Minister’s visit to the Alouette alumina.
With information from the Canadian press, Alban Normandin and Lucas Sanniti
