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Federal investment in forestry

Nov. 22, 2013, Saint-Felicien - The federal government has announced it plans to provide $169.3 million in investments for Canada's forest sector, including more than $61 million in Quebec.

"Our Government is continuing to address the challenges facing Quebec's forest sector and forest-oriented communities," said Minister Lebel. "The successful transformation of the forest sector is based on a strong partnership that involves both industry and government."

"Investments like those announced today are part of our Government's strategy to protect jobs and ensure a more sustainable future for Canada's forest industries," added Minister Oliver. "We are engaged to further transform this sector and help open new market opportunities and foster innovation."

Speaking at Resolute Forest Products' Saint-Felicien mill (formerly Fibrek S.E.N.C), Minister Lebel announced the federal government's investment of $10 million to support two projects, which are helping improve the mill's energy efficiency while increasing its generation of renewable electricity. This funding is made under the Pulp and Paper Green Transformation Program (PPGTP).

"As a global leader in the forest products industry, we market our products to nearly 90 countries while emphasizing environmental, social, and economic sustainability," said Mr. Richard Garneau, President and CEO of Resolute Forest Products. "Federal investments help us find innovative and sustainable ways to do business."

Minister Lebel also highlighted the successful completion of 16 projects at 11 pulp and paper mills across the country, representing a Government of Canada investment of more than $109 million under PPGTP. This includes $800,000 for the Kruger Wayagamack mill in Trois-Rivieres to improve the mill's energy efficiency through optimized heat exchange. In total, the $1 billion PPGTP provided funding for 98 projects in 38 Canadian communities, and supported more than 14,000 jobs.

Additionally, Minister Lebel announced that the federal Government is committing $35 million to Quebec-based projects under the Investments in Forest Industry Transformation (IFIT) program. This program supports Canada's forest sector in becoming more economically competitive and environmentally sustainable, using targeted investments in innovative technologies.

Finally, Minister Lebel announced a Government's investment of $25.1 million in FPInnovations to support forest products research in Canada, of which $15.4 million will be allocated to laboratories in Quebec. This funding will help develop new high-value forest products, resulting in a more innovative and diversified forest sector, helping secure industry jobs and create high quality, well paid new ones.

November 22, 2013  By Marketwired

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