Davos, January 22, 2014 – During her participation in last year’s World Economic Forum in Davos, Québec Premier Pauline Marois met with Pedro Larrea, President of FerroAtlántica, to discuss the possibility of setting up a silicon plant in Québec. The Premier is therefore pleased to announce that Spanish company FerroAtlántica, the world’s leading producer of silicon metal, will soon be opening a facility in Québec. Representing a total estimated investment of $375 million, FerroAtlántica’s new plant will drive growth for the Québec economy and ultimately lead to the creation of over 300 jobs.
“Ever since it was elected, my government’s top priority has been to create employment in every region of Québec. The economic policy I launched last fall, Putting Jobs First, proposed using our substantial surpluses of electrical power to stimulate investment and job creation. The opening of FerroAtlántica’s facility in Québec is a tangible result of that policy at work. Our large surpluses and the possibility of setting lower rates were decisive factors in the company’s decision,” declared the Premier.
The plant’s construction will also lead to the creation of indirect jobs, with a number of subcontractors and suppliers set to win contracts during the operations phase. The company is currently looking at various sites in Québec for its new facility, construction of which is expected to begin in the next few months. The plant will begin operations in late 2016.
FerroAtlántica’s project holds strong potential for the creation of a vertically integrated production chain, with the possibility of some of the quartz supply coming from Québec mines. In addition, Québec’s waste wood may be used in processing raw materials into silicon metal.
“After many meetings and prospecting tours, we concluded that Québec had all the necessary ingredients for the construction of a competitive plant. I would like to thank the representatives of the government and Investissement Québec, who worked closely with us the whole way and helped us get the information we needed quickly. We greatly appreciated their ability to let us know about the many very attractive possibilities available to us in regard to several essential facets of our operations and the completion of the two phases of our project. We visited and considered several interesting sites, and we should be confirming our final choice in the coming months,” stated Pedro Larrea, President and CEO of Grupo FerroAtlántica.
Grupo FerroAtlántica is a wholly owned subsidiary of Spain-based Villar Mir group. FerroAtlántica is the global leader in silicon metal production and one of the biggest producers of manganese and ferrosilicon alloys, which are used primarily in the automotive industry, in producing silicone and high-performance concrete, and in solar panel manufacturing. In 2012, FerroAtlántica recorded sales of €1.1 billion and employed some 3,100 people at its 15 plants in Europe, South America, Africa and Asia.
About Grupo Villar Mir
Grupo Villar Mir is one of the largest privately owned Spanish industrial groups. Its worldwide operations span 40 countries on five continents. In only 25 years, Grupo Villar Mir has extended its activity portfolio to include construction, transportation infrastructure, real estate development, electrometallurgy, energy, fertilizers and services. Through its construction subsidiary, OHL, the group is already involved in several projects in Canada, including the University of Montreal Hospital Centre. With a budget of over $2 billion, it is one of the world’s biggest hospitals currently under construction. OHL has a 25% stake in the concession and a 50% stake in the construction work. The group also holds a 50% stake in the $400-million Toronto subway project, which includes a 3.5-km double tunnel, the building of Highway 407 and 600 surface parking spaces.
About Investissement Québec
Investissement Québec’s mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
To receive Investissement Québec press releases in real time, subscribe to the following RSS feed: http://feeds.feedburner.com/IQ-PressReleases
– 30 –
Office of the Premier