Sources: McInnis Cement, Montreal; Lafarge North America, Chicago; CP staff
Responding to Lafarge North America charges of “enormous subsidies” behind a $1 billion greenfield cement plant and marine terminal in eastern Quebec, McInnis Cement contends: “The project has no subsidies [and] is being financed based on the merits of the business, with all debt and equity investors involved doing so on a commercial basis alone.”
Read MoreSource: McInnis Cement, Montreal
Read MoreLeaders in the newly elected Quebec government have confirmed the major financial commitment—$100 million equity stake plus $250 million in senior debt—the predecessor administration announced earlier this year for the $1.1 billion McInnis Cement plant and marine terminal in Port-Daniel-Gascons.
Read MoreSources: Quebec Office of Minister of Economy, Innovation and Export Trade; McInnis Cement, Montreal; CP staff
Leaders in the newly elected Quebec government have confirmed the major financial commitment—$100 million equity stake plus $250 million in senior debt—prior province officials announced earlier this year for the $1.1 billion McInnis Cement plant and marine terminal in Port-Daniel-Gascons.
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By Don Marsh
Quebec Premier Pauline Marois and business leaders convened in late-January to outline a financial structure for an export-driven start up, McInnis Cement. The company will commence spring 2014 construction of a “shovel ready,” $1 billion project: An advanced portland cement mill with ultimate annual capacity upward of 2.5 million tonnes (2.75 million tons), plus marine terminal equipped to load 2,000 tonnes (2,200 tons)/hour.
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