Press release from CNW Group
Laurentian Bank Participating in a Financial Consortium for the Construction of a Wastewater Treatment Plant in the City of Greater Sudbury
Tuesday, August 13, 2013
Laurentian Bank Participating in a Financial Consortium for the Construction of a Wastewater Treatment Plant in the City of Greater Sudbury14:48 EDT Tuesday, August 13, 2013
MONTREAL, Aug. 13, 2013 /CNW Telbec/ - Laurentian Bank is pleased to announce its participation in a financial consortium valued at close to $42 million for the purposes of assisting N-Viro Systems Canada LP with the construction of a biosolids management facility and for certain upgrades to the existing waste water treatment facility in the City of Greater Sudbury, Ontario.
Being led by N-Viro, the project stems from the City's commitment to adopt a sustainable method for the management of residual biosolids subsequent to the completion of a study and environmental assessment. The City presently operates nine secondary wastewater treatment facilities, where this wastewater is transported by truck and transferred into open treatment ponds. The new construction will allow the City to treat wastewater generated within the City, using an environmentally sustainable Canadian technology.
"Laurentian Bank is proud to be associated with this type of innovative municipal financing project within the framework of a public-private partnership," said Eric Provost, Senior Vice-President, Commercial. "In addition to representing a first in Ontario, the infrastructure to be installed will enable the City of Greater Sudbury to sustainably and responsibly manage its wastewater."
The solution proposed by N-Viro was retained subsequent to the issuance of a call for tenders. N-Viro operates certified installations in Leamington, Thorold, Sarnia, Halifax, Banff and Summerside, which all use the same proven technology to be employed in the City of Greater Sudbury. In addition to building the plant, N-Viro will also be responsible for its operation.
About Laurentian Bank's Real Estate and Commercial Group
Composed of a number of specialized teams, Laurentian Bank's Real Estate and Commercial group focuses on several business sectors, including manufacturing, energy and infrastructure, as well as real estate. The group offers companies ranging from SMEs to large-scale corporations and developers a diverse range of business solutions tailored to their needs. Known for its expertise and agility, the team has earned a solid reputation in real estate financing and the granting of commercial loans. It offers its services via 35 offices across Canada, including those in Toronto, Vancouver, Calgary and Montréal.
About Laurentian Bank
Laurentian Bank of Canada is a pan-Canadian banking institution that has more than $34 billion in balance sheet assets and $37 billion in assets under administration. Founded in 1846, Laurentian Bank was selected in 2012 as one of the 10 winners of the Canada's Passion Capitalists program in recognition of its sustained success through the promotion of passion within its ranks. The Bank employs more than 4,200 people.
Recognized for its excellent service, proximity and simplicity, Laurentian Bank serves more than one million clients in market segments in which it holds an enviable position. In addition to occupying a choice position among consumers in Québec, where it operates the third largest branch network, the Bank has built a solid reputation across Canada in the area of real estate and business financing thanks to its teams working out of more than 35 offices in Ontario, Québec, Alberta and British Columbia. Its subsidiary, B2B Bank, is a Canadian leader in providing banking products as well as investment accounts and services to financial advisors and brokers, while Laurentian Bank Securities is an integrated broker, widely known for its expertise and effectiveness nationwide.
SOURCE: Laurentian Bank of Canada
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