IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 06 Jul 2018 | Removal date: open ended
Still in force

State aid, nes

On July 6, 2018 Quebec Finance Minister Carlos Leitão announced that the province will invest Can.$188 million (U.S.$143 million) into Chantier Davie Canada Inc. This investment in the country's largest shipbuilding firm will be made via Investissement Québec funds, and will refinance the conversion of a container ship that Davie transformed into a supply ship. That vessel is leased by the Royal Canadian Navy. Leitão was quoted in the press as stating that these funds constitute an investment rather than a subsidy, and will come out of the province's Can.$250 million (U.S.$190 million) maritime strategy fund, which was announced in March, 2018. Spencer Fraser, CEO of Federal Fleet Services, said that the government’s participation “frees up some of the cash which was invested into building the ship and will be exclusively reinvested in the shipyard” allowing the government “make a profitable, risk-adjusted investment to bolster the province's marine industry which will be fully repaid.”

AFFECTED COUNTRIES

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AFFECTED SECTORS AND PRODUCTS

493 Ships
8901 Cruise ships, excursion boats, ferryboats, cargo ships, barges and similar vessels for the transport of persons or goods.
890190 Other vessels for the transport of goods and other vessels for the transport of both persons and goods

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