Aluminerie Alouette, a major Quebec aluminum smelter, announced a $1.5-billion investment in its North Shore facilities over the next 20 years, tied to a new electricity rate agreement in principle with Hydro-Québec until 2045. Quebec Premier François Legault hailed the deal as a positive sign for the industry, which has faced U.S. tariffs.
Major Quebec aluminum smelter announces $1.5-billion investment with new electricity deal
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TL;DR: Key points with love ❤️Aluminerie Alouette, a major Quebec aluminum smelter, announced a $1.5-billion investment in its North Shore facilities over the next 20 years, tied to a new electricity rate agreement in principle with Hydro-Québec until 2045. Quebec Premier François Legault hailed the deal as a positive sign for the industry, which has faced U.S. tariffs.
Trending- 1 Agreement in principle on electricity rates reached
- 2 Investment of $750-million committed by 2030
- 3 Total investment of at least $1.5-billion committed by 2045
- 4 Electricity deal valid until Dec. 31, 2045
- Significant investment in Quebec's aluminum industry
- Hydro-Québec shares in profits during high aluminum prices
- Aluminerie Alouette remains competitive during low market prices
- Positive sign for an industry hit by U.S. tariffs
- Secures employment for approximately 950 people
- Maintains 20% of the province's aluminum production capacity
What: Aluminerie Alouette announced an investment of at least $1.5-billion in its North Shore facilities, linked to an electricity rate agreement with Hydro-Québec.
When: Over the next 20 years, with $750-million by 2030 and a total of at least $1.5-billion by 2045. The electricity deal is in principle until Dec. 31, 2045.
Where: Sept-Îles, Quebec, Canada (North Shore facilities).
Why: The investment is tied to an agreement in principle with Hydro-Québec on electricity rates, which allows Hydro-Québec to share in profits when aluminum prices are high and permits Aluminerie Alouette to stay competitive when market prices drop. It's also a positive sign for an industry affected by U.S. tariffs.
How: By committing to invest $750-million by 2030 and a total of at least $1.5-billion by 2045, facilitated by a new electricity deal with Hydro-Québec.