The Quebec Ministry of Economy has granted a conditional subsidy of $ 16 million to the multinational Suédo-Suisse ABB in connection with an investment of more than $ 130 million in Saint-Jean-sur-Richelieu.
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“This is a forgivable interest -free loan. To be eligible for forgiveness, the company will have to achieve objectives in particular with the realization of the project, the level of jobs and the increase in productivity. The details of the targets are however confidential, “said the Journal A spokesperson for the Ministry of the Economy, congratulated Nicole.
If the company specializing in electrification and digitization meets all the conditions, the entire loan will not have to be reimbursed, said the ministry.
The project aims to bring together two ABB factories, located in Iberville and Saint-Jean-sur-Richelieu, in a new building that will be built in Saint-Jean.
Satisfied
“ABB is delighted with the support” of Quebec, commented Mike Shenouda, head of the Canada Region for the company, in a declaration sent to Journal.
The future factory “will support more than 600 existing jobs and new positions will be created as the production expands,” said Abb.
According to the company, new facilities will make it possible to “support future growth in key sectors such as public services, renewable energies, buildings and infrastructure throughout Canada”.
ABB presents itself as a world leader in the electrification and automation sectors. His income exceeded $ 4 billion last year.
