On Dec 1, 2011, it was announced by Jean Simone, the President of the Primary Metal division of Rio Tinto Alcan that the modernization has been approved by the Board of Directors. The announcement has been long awaited and much anticipated as Rio Tinto Alcan has already spent $700 million on the project to this point.
What this means for local businesses in Terrace and the region is that the project managers can begin to comfortably purchase their supplies and hire their services without risk of the plug being pulled on the project. Rio Tinto Alcan has committed to using local businesses as much as possible to complete this project, which is similar to their operational policy. The economic benefits of this project are immense, it guarantees nearly 1,000 long-term, and high paying jobs in the Northwest and will generate significant spin off jobs.
We at TEDA applaud Rio Tinto Alcan’s commitment to the Northwest British Columbia region and think that their slogan of Building the Future Together could not be more accurate. We have below Jean Simone, discussing the economic impacts of the modernization smelter and his commitment to the region.
Rio Tinto Alcan’s modernization project is the tip of the ice berg of the development of many billion dollar projects in Northwest British Columbia. RTA’s project is the first to receive all of its permitting and approvals and confirm financing. The economic spinoff in Terrace has already been noticeable from this project but with Kitimat’s population expected to double in the next five years and Terrace being the community that has always served the industry, the economy in Terrace will prosper to unprecedented levels.
Read our blog to learn more about development projects happening in the area, as well as what's happening in Terrace.
a public-private partnership that works to stimulate Terrace’s economy through improving economic infrastructure, facilitating new investment, and supporting local businesses.
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