McInnis C$1.1 bn cement plant project completes its financing

McInnis Cement is a private company undertaking the construction of a cement plant in the municipality of Port-Daniel, in the Province of Quebec. The project is valued at approximately C$1.1 bn.

McInnis has announced that the financial structure of its new generation cement plant under construction in the Gaspé region has been completed. National Bank of Canada, as sole bookrunner of the bank syndicate, has confirmed the availability of a C$360 mn loan for the project. This amount is in addition to the C$500 mn in equity from private and public investors including the joint venture formed by the groupe Beaudier and La Caisse de dépôt et placement du Québec, as well as the participation of Investissement Québec (IQ). Furthermore, IQ has also provided a C$250 mn commercial loan, for a total of C$1.1 bn.