Mar 8 2010
Daewoo Shipbuilding and Marine Engineering Ltd. (DSME) is collaborating with the Nova Scotia government to construct a C$90 million wind turbine component manufacturing plant in Trenton, in Pictou County, according to a statement from the prime minister’s office of Nova Scotia.
DMSE will have a 51% stake in the new plant with a contribution of $20.4 million while the province will have a 49% interest with an investment of $19.6 million. In addition, the province will provide a loan of $30 million to purchase new equipment, a loan for working capital up to $6 million and a forgivable loan of $4 million to purchase land and buildings through the Industrial Expansion Fund. With the startup financing, the contribution of the state totals to C$60 million.
The balance of $10 million will be provided by the federal government through the Atlantic Canada Opportunities Agency. Darrell Dexter, Nova Scotia’s Prime Minister, said the partnership will create up to 500 jobs within three years. He further said the new plant will demonstrate the leadership status of Nova Scotia in the renewable energy sector and added that about 120 jobs will be created in the facility in its first year of operation.
Source: http://www.dsme.co.kr/en/