Creating wealth
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By injecting annually more than $549M in salaries, taxes, purchases of goods and services as well as electrical power, the Alcoa Baie-Comeau aluminum smelter is a major player of the regional economic activity. This modernization project will strengthen Alcoa's presence and its leadership role within the community.
Actors and stakeholders
The following stakeholders made possible the Baie-Comeau aluminum smelter modernization project.
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Ministère des Ressources naturelles et de la Faune
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Ministère du Développement économique, Innovation et Exportation
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Ministère des Finances
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Ville de Baie-Comeau
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Manicouagan RCM
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Chambre de commerce de Manicouagan
The Quebec Government's contribution is a $228M no-interest loan guarantee and the delivery by Hydro-Québec of an additional 175-MW block of energy at the L rate (major customers).
Win-win partnership
Hydroelectricity and aluminum development have grown together in Québec since many decades. This strong partnership helps the Province occupy a world-class leadership role in these fields.
Québec is now the third world leader in primary aluminum with an annual production of 3 million tons, of which 1 million comes from Alcoa.
A few project numbers
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Investment of US$1.2G in the Alcoa Canada five-year investment plan announced in November 2011
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Creation of 6,800 job-years during the construction period
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Close to $500M in economic benefits
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A $50M contribution to the Québec Government Fonds de développement économique (Economic Development Fund)
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Creation of a $25M sustainable development fund for the three Québec communities where Alcoa is operating; part of this fund is reserved for the Baie-Comeau community for initiatives in sustainable development and education.
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