Port Daniel cement plant project agreement, Canada

Société en commandite Gisement McInnis (McInnis) has entered into a partnership agreement with Cimbec Canada Inc to develop the Port Daniel cement plant and terminal project in the Gaspé Peninsula, Quebec, Canada.
 
McInnis is a privately-held limited partnership controlled by Beaudier Inc., a private investment company held by the Beaudoin family.
 
Agreements have been reached with all Cimbec Canada creditors and those of the operating entity Cimbec Inc, which is now a wholly-owned subsidiary of McInnis. This new ownership and capital structure will allow McInnis to develop the project to its full potential based on the size, quality and location of the limestone deposit, a statement said.

"This is an important, long-term investment and an opportunity to create sustainable industrial activity in the Gaspé thanks to an exceptional site with a high-quality natural resource. We look forward to bringing this project to fruition in a responsible manner and as market conditions warrant," said Jacques Levesque, Vice President of Finance, Beaudier Inc.

Cimbec was formed for the purpose of carrying out the cement plant project on a piece of land located on Atlantic’s ocean deep water in Port Daniel. The plant will be serviced by a marine terminal, which will allow Cimbec to ship cement in bulk to the East Coast of United States and export overseas.

Located on the shores of Gulf of St-Lawrence in Baie-des-Chaleurs, the marine terminal will allow the reception of necessary additives and fuel as well as cost effective shipping of cement. It will have a loading capacity of 1400tph and unloading capacity of 1000tph.