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China's Largest Project in Canada Taking Shape
China's largest investment project in Canada is taking shape with the completion of the first phase of a textile company.
China Worldbest, a major Chinese textile company, Wednesday celebrated the completion of the first phase of the project in Drummondville, a Quebec city with 80,000 citizens. The new textile mill, called Worldbest Canada, is expected to create 380 jobs in two years.
With a total investment of 30 million US dollars, it is the largest Chinese enterprise in Canada.
The city lost about 400 textile jobs after recent mill closings by Celanese Canada and Cavalier Textiles.
The Chinese project reflects the development in bilateral ties and cooperation, especially since Canada sent its largest trade mission to China in February, said visiting Chinese state councilor Ismail Amat at the inauguration ceremony of the mill.
Martin Cauchon, Canadian minister of national revenue, said he hoped the project would help attract more Chinese firms and urged Chinese entrepreneurs to take Canada as the gate into North America.
The federal and Quebec governments have pledged a total of 13 million Canadian dollars (about 8.5 million U.S. dollars) in loans or subsidies to support the initiative, he said.
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