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Article: Rio Tinto Alcan granted $175 million loan from the Government of Quebec to further construction of AP50 pilot project.
- Article from:
- PR Newswire
- Article date:
- May 7, 2009
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MONTREAL, May 7 /PRNewswire/ -- Rio Tinto Alcan has been granted a loan from the Government of Quebec totalling up to $175 million to further the construction of its AP50 pilot plant in the Saguenay-Lac-Saint-Jean region.
"This additional financial support from the Government of Quebec is greatly appreciated and essential to the AP50 project," said Jacynthe Cote, Chief executive, Rio Tinto Alcan. "We have seen a 60 per cent drop in the price of aluminium, and a similar drop in alumina, since July 2008. This loan allows us to continue developing our proven power-to-product solutions and will help Rio Tinto Alcan maintain its strong position in Quebec for when ...