Port-Daniel cement plant secures $360M loan
McInnis Cement announced that the financial structure of the Port-Daniel cement plant under construction in Quebec’s Gaspé region is now in place.
The National Bank of Canada has confirmed the availability of a $360-million loan for the project, which is in addition to the $500-million in equity from private and public investors.
Port-Daniel cement plant highlights:
- Up to 40 per cent less fuel per ton of cement than traditional cement plants due to higher use of hydroelectric power
- Only cement plant in Canada to comply with U.S. standards set out in the National Emission Standards for Hazardous Air Pollutants (NESHAP 2015)
- Equipped with all the latest technology for improved environmental performance, including the latest generation bag filters throughout the plant
- Will use maritime transportation and petroleum coke for fuel