Quebec Government supports investment projects worth $132.6 million by Siemens Canada in Quebec
Davos, Switzerland – Today at the World Economic Forum at Davos, Siemens AG CEO Joe Kaeser and Quebec Premiere Philippe Couillard, together with the Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy, Ms. Dominique Anglade announced substantial support for Siemens Canada investment projects in Quebec.
Below is an English translation of the press release published by the Government of Quebec. The official French language communiqué may be found on the Government of Quebec’s website HERE:
German-based Siemens AG chooses Québec for an investment of $132.6 M
German-based Siemens AG, through its subsidiary Siemens Canada, plans to invest $110.6 million in research and development activities at its plant in Dorval, Que., to design and make improvements to aero-derivative gas turbines. These turbines are used for, among other things, the production of electricity, and serve as a backup source in the event that the existing network is unable to meet the demand.
The global leader in advanced technologies also plans to invest $22 million to launch a platform of expertise related to Industry 4.0 and the implementation of a training system integrated into the workplace, inspired by the German “dual” model. Innovative implementation projects and manufacturing initiatives will be developed in collaboration with all of Siemens’ partners, including educational institutions, the Ministère de l’Économie, de la Science et de l’Innovation and Investissement Québec.
The Québec Government will grant the Company a loan of $20 million to support these investment projects.