Governments pledge $272 million to fund Selkirk silica sand processing plant
A multi-million dollar plant that will process Manitoba silica sand to create glass for solar panels will receive a big chunk of funding from multiple levels of government.
Canada Premium Sand Inc. (CPS), the company behind the Selkirk-area facility, said both the Manitoba and federal governments have pledged $272 million in financial assistance to build the plant.
Of that, $72 million will come from the province in non-dilutive financial support. About $32 million will be used to cut capital costs, and $40 million will come in the form of a low-interest loan.
The feds are kicking in $100 million of non-dilutive financial support.
The company also hopes to get up to $100 million through the federal Indigenous Loan Guarantee Program “with the potential to facilitate a meaningful ownership position in the CPS project for participating Indigenous groups,” the company said in a news release.
CPS said it is in discussions with Manitoba Indigenous groups to explore investments in the project.
The company said it also qualifies for existing provincial tax incentives and economic development programs ringing in at about $60 million in benefits over the project’s lifespan.
CPS president and CEO Glenn Leroux said the governments’ combined financial support means the remaining private capital needed to fund the plant’s construction is reduced from $880 to potentially $608 million - the majority of which could come in the form of long-term debt.
“Having received the federal and provincial indications of financial support, we can advance our project financing with the goal of putting shovels in the ground in 2025,” he said.
Plant could create hundreds of jobs
The Selkirk plant would process Manitoba silica sand extracted near Hollow Water and Seymourville to make 800 tonnes of ultra high-clarity, low-carbon patterned solar glass a day.
It will be used to make solar panels across North America, quashing the need to import the glass from other countries.
In February, the Kinew government dismissed a regulatory appeal against the plans, which has already been granted an environmental license.
The province noted the plant will create 250 jobs in Selkirk, 30 in Hollow Water, and another 600 to 700 in construction.
Hollow Water First Nation and Seymourville also have agreements in place with CPS, which includes environmental oversight and possible revenue sharing.
Still, the project has faced opposition from area residents and environmental advocates.
Camp Morning Star filed an appeal, citing health and safety concerns with the plans.
The Kinew government said it took its time to review the appeal, while consulting experts. The premier said the plans include remediation work.
The province said shovels could be in the ground for the mine in the summer and for the Selkirk plant next year.
- With files from CTV’s Jeff Keele
CTVNews.ca Top Stories
Canadian family stuck in Lebanon anxiously awaits flight options amid Israeli strikes
A Canadian man who is trapped in Lebanon with his family says they are anxiously waiting for seats on a flight out of the country, as a barrage of Israeli airstrikes continues.
Suspect in shooting of Toronto cop was out on bail
A 21-year-old man who was charged with attempted murder in the shooting of a Toronto police officer this week was out on bail at the time of the alleged offence, court documents obtained by CTV News Toronto show.
Scientists looked at images from space to see how fast Antarctica is turning green. Here's what they found
Parts of icy Antarctica are turning green with plant life at an alarming rate as the region is gripped by extreme heat events, according to new research, sparking concerns about the changing landscape on this vast continent.
DEVELOPING 2 dead after fire rips through historic building in Old Montreal
At least two people are dead and others are injured after a fire ripped through a century-old building near Montreal's City Hall, sources told Noovo Info.
Yazidi woman captured by ISIS rescued in Gaza after more than a decade in captivity
A 21-year-old Yazidi woman has been rescued from Gaza where she had been held captive by Hamas for years after being trafficked by ISIS.
A 6-year-old girl was kidnapped in Arkansas in 1995. Almost 30 years later, a suspect was identified
Nearly 30 years after a six-year-old girl disappeared in Western Arkansas, authorities have identified a suspect in her abduction through DNA evidence.
Dolphins 'smile' at each other when they play and to avoid misunderstanding, study finds
For humans, flashing a smile is an easy way to avoid misunderstanding. And, according to a new study, bottlenose dolphins may use a similar tactic while playing with each other.
Pit bulls in B.C. pet mauling tested positive for meth, cocaine, says city
Three pit bulls involved in a deadly attack on another dog last month in Kamloops, B.C., tested positive for methamphetamine and cocaine, and the city is going to court to have them put down.
Tax rebate: Canadians with low to modest incomes to receive payment on Friday
Canadians who are eligible for a GST/HST tax credit can expect their final payment of the year on Friday.