en.Wedoany.com Reported - ADF GROUP INC. plans to invest $50 million CAD in the expansion of its subsidiary LAR Group's plant in Métabetchouan–Lac-à-la-Croix, Quebec, Canada, and the modernization of its Terrebonne plant. Investissement Québec will provide up to $10 million CAD in loans specifically for capital expenditures related to the Métabetchouan project.
ADF Group is a leader in the manufacturing of steel superstructures in North America, covering connection design, engineering, fabrication, and installation. The investment includes two main projects: the Métabetchouan Project, valued at $40 million CAD, involving the renovation of existing facilities, construction of an adjacent expansion area, and acquisition of advanced equipment, expected to create 82 jobs in the Saguenay–Lac-Saint-Jean region; and the Terrebonne Project, with an investment of $10 million CAD, aimed at transforming a workshop section dedicated to manufacturing structural components for the Quebec hydropower market.
The financing plan for these projects has been partially secured. ADF Group has signed agreements for loans granted under the ESSOR program (managed by Investissement Québec on behalf of the Government of Quebec), including a $4 million CAD interest-free loan for the Métabetchouan project and a $1 million CAD loan for the Terrebonne project at a fixed interest rate of 4.1%. Additionally, the Government of Canada, through the Strategic Response Fund, has committed up to $12.5 million CAD in funding to the company, of which $6.25 million CAD is non-repayable and $6.25 million CAD is repayable without interest. The repayable portion will be paid in eight equal annual installments starting February 1, 2029, with government disbursements subject to agreement terms, project progress, and eligible applications.
ADF Group stated that the above financing plan is pending the signing of final agreements between both parties. The company is actively working to finalize the complete financing package required for project implementation and plans to explore all available channels, including financial institutions and government agencies.
