http://lejournaldequebec.canoe.ca/journaldequebec/actualites/national/archives/2011/03/20110319-103524.html

Translated from French


50 billion for the North Plan
Michel Hébert QMI Agency

19/03/2011 10: 35 am


The Northern Plan will allow private 50 billion investment
© QMI Agency
Announced by Jean Charest during the election campaign of 2008, the Northern Plan will allow investments of 50 billion, learned Journal.

The Minister of natural resources, Nathalie Normandeau, will make the official announcement at a Conference of press in April.

The Government has, for months, several major projects in its cartons. Of such multinational - Gold Corp., Arcelor Mital and the Indian manufacturer of automobiles Tata are ready to launch several very large-scale mining projects in the sectors of the Otish mountains, Mount Wright and Kuujjuak.

Chinese investors have, for their part, at least $ 10 billion to invest in a project of iron mine in Nunavik, in partnership with Adriana resources. The Chinese are also active in the acquisition of rare minerals.

In presenting its budget Thursday, Finance Minister Raymond Bachand gave a good idea of what will be the Northern Plan. It is in not unveiled too for not cutting the grass under the foot of his colleague Normandeau, who pilot this folder with the Prime Minister himself.

Ms. Normandeau has recently entrusted to relatives that it appreciated, in particular, this folder the qualities of "visionary" of Jean Charest. She would have said that he "sees where we will be in five years".

For the moment, this project is, according to the words of the Minister, "an approach, a new paradigm" of economic development.

It will establish on three axes: economic, tourist and environmental.

Large portions of the territory north of the 50th parallel will be added to the world and consequently protected environmental heritage.

European tourists being love of open spaces, especially Quebec tundra, Northern Plan will a choice place in protected areas and "environmentally friendly" tourism activities areas.

Jean Charest also already said that he planned to do planting 100 million trees on the part of the territory made evil by the forest industry.

1.2 billion in infrastructure

As a first step, the Government will invest in infrastructure, effective this year: 278 million to extend Highway 167 to Otish mountains; 415 million for route 389 from Baie-Comeau and Fermont; 56.8 million to link the Nunavik and 33 million to ensure liaison between Radisson and Kuujjuarapik.

In total, the Government spends 1.2 billion in various infrastructure and, in particular in the construction of a deep water port in James Bay.

A new line of railway from 850 kilometres linking the port of Sept-Îles to the mining project Millenium will be also necessary for the investment of five billion caressed by Tata Steel.

The multinational Indian also has controlling interest in future DSO, Direct Shipping Ore railway line. Canadian Mining Journal, one of the deposits covered by Tata contains 64 million tonnes of pure iron at 58%. In New Delhi, Tata has recently announced to want to produce four million tonnes of iron ore from 2012.