Montreal, QC — June 26, 2002 –To lower its costs, Lantic Sugar Limited is planning to use energy from a new cogeneration plant to be located next to its facility in Montreal.
A wholly owned subsidiary of Rogers Sugar Income Fund, Lantic has entered into a memorandum of understanding with TransCanada Energy Ltd. for the proposed new cogeneration plant. TransCanada Energy Ltd., a wholly owned subsidiary of TransCanada PipeLines Limited, has submitted a proposal to Hydro-Quebec Distribution for construction of the facility.
If the proposal is accepted under the utility’s tender process, and after all related permits are obtained, TransCanada Energy Ltd. would construct a 160-megawatt plant adjacent to Lantic’s sugar refinery on Notre-Dame street in Montreal.
Lantic would benefit from lower steam costs and from other financial benefits derived from the site.