MONTREAL—The federal government has signed off on a $4-million interest-free loan to Orbite Aluminae Inc. as the company gets set to launch a new production plant in Quebec.
Awarded through through Canada Economic Development’s Quebec Economic Development Program, the loan will go towards the purchase of equipment as Orbite gears up to launch commercial operations at its Cap-Chat, Que., high-purity alumina production plant.
“We are very thankful for the confidence and financial commitment provided by the (government) which will be dedicated to the purchase and installation of our alumina calcinator, a key element in our high purity alumina production facility,” Orbite chief operating officer and executive vice-president Glenn Kelly said in a statement.
The financing will be doled out in 10 consecutive equal semi-annual installments starting 24 months following completion of the plant.
With this project, Orbite will become the only producer of alumina in Canada.
The company expects to produce three tonnes of high-purity alumina per day at its facility.
According to the company, the facility represents an investment of more than $28-million.