NDP defends hog plant investment

CANADA - The NDP government on Friday defended its multimillion-dollar investment in a Moose Jaw meat-packing plant -- money that may be in jeopardy.
calendar icon 4 September 2006
clock icon 2 minute read
About $3.8 million in taxpayer dollars has gone into Moose Jaw Pork Packers, formerly known as Worldwide Pork.

The province gave the company $1.5 million outright in April as a grant to help reopen the plant.

Before that, the government had put in about $2.3 million in secured debt. That was converted in April into an equity investment, which translates into a six per cent share of the company.

While that $2.3 million is now at stake because of the uncertain future of the company, NDP cabinet minister Kevin Yates said the April grant was the right action for the government to take.

Source: Canada.com
© 2000 - 2022 - Global Ag Media. All Rights Reserved | No part of this site may be reproduced without permission.