Chantiers Chibougamau Receives $7.5 Million in Financial Support From Quebec
The Quebec provincial government announced last Thursday (3-2-23) that it is awarding $7.5 million (CAD) in financial support to Chantiers Chibougamau to increase its mass timber production capacity at its Chibougamau facilities and modernize the management of its activities.
The funding includes a $5 million loan from Investissement Québec, which acts as an agent of the Economy Ministry, as well as a $2.5 million grant from the Ministry of Natural Resources and Forestry’s Wood Innovation Program.
In a press release (translated), Michel Filion, COO of Chantiers Chibougamau, said:
“With this project, which doubles our capacity in certain products, such as cross-laminated timber, which is in strong international demand, we are responding to ensure that Quebec materials do even more in the global fight against climate change. With the jobs created in Chibougamau and Montreal, the trees we cut and process will meet even more needs and enrich Quebec.”
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