Railpower building new Quebec plant
Railpower Technologies Corp. said Monday it plans to build a new manufacturing plant in Saint-Jean-sur-Richelieu, Que., with the help of the Ontario Teachers' Pension Plan and the provincial government.
The new plant is expected to create about 125 new jobs, the maker of hybrid-powered locomotives said.
"This facility is expected to significantly improve our manufacturing efficiencies and provide Railpower with the ability to rapidly expand its current production," said Jose Mathieu, the president and CEO of the company.
The Ontario Teachers' Pension Plan will invest $20 million to finance the construction of the manufacturing facility and to allow the company to build additional demonstration locomotives.
The Quebec government has granted Railpower, which has its headquarters in Brossard, Que., a subsidy of up to $2.5 million to help finance the project and create jobs in the Saint-Jean-sur-Richelieu area.
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