SIM’s Bécancour HBI project represents an investment of more than one billion Canadian dollars. Key components of SIM’s investment budget are land acquisition (generating revenues for both the Bécancour Industrial Park and Port, and the municipality of Bécancour), the purchase of technology and equipment, and construction costs. During the construction phase, SIM will rely heavily on the local workforce (estimated requirement is 1,400 workers), and prioritize procurement from local suppliers and service providers to every extent possible.
The project will add much value, within Quebec, to raw materials produced in Quebec, since the unit price of exported HBI will be substantially higher than the cost of locally sourced inputs, including iron ore and energy, after combining these inputs with the cost of their transformation.
When construction of the Bécancour HBI plant is completed, permanent benefits to the local community will accrue through an estimated 175 ongoing fulltime jobs that will be created to maintain operation of the plant, including management, marketing, and administrative staff, as well as hands-on technicians and workers employed in running the facility itself. An additional 400 jobs will also be created indirectly in the Bécancour region. Outside of the plant premises, this will include new employment in the maritime sector, in areas such as shipping and stevedoring, as well as in railroad operations and in procurement from small business contractors.