Millions invested in Northvolt are lost
The Quebec government has confirmed that the $270 million that it invested in Northvolt is lost.
-
Kate
Reply
Recent Posts
Recent Comments
Pages
Other levels of gov’t
Sideblog projects
Enviro Montreal is a Bluesky feed that follows local environment news. Also available on Mastodon.
Archives
Pages rescued from montreal.com
Meta
Ian 12:50 on 2025-03-27 Permalink
$500 million in cost overruns on SAAQclic, $270 million on this, heavens only knows how much extra to “favoriser et de protéger la langue française”… quelle gang des connards.
No wonder the CAQ is trying to figure out how to shave health and education to the bone.
walkerp 13:06 on 2025-03-27 Permalink
Gotta love it when businessmen apply their elite skills to government.
Mark 15:30 on 2025-03-27 Permalink
I’ve been a manager and director in non-profit organizations my entire career. I currently oversee around 4M in funding for programming across the country. Every dollar is accounted for. Any project that is going over is flagged early, and we make adjustments.
I can understand why a construction project can go over if there are unexpected conditions…ex: explosives in the Mount-Royal tunnel for the REM. But how can the SAAQ clic go over by 50%? Don’t 5000M projects have at least 2-3 people who’s job is solely to monitor costs?
Is it all due to the lowest bidder law, or is it because important projects are hard to estimate, or is it blatant corruption, or is lack of accountability or repercussions?
That may have been a rhetorical question and I’m sure the answer is all of the above, but I would love to hear from anyone who might have worked on projects of this magnitude to provide some insights.
bob 12:00 on 2025-03-28 Permalink
@walkerp – The elite skill is to move money from government accounts into their pockets, and in that they are quite successful. $270 million did not get stuffed into a kiln, and $500 million did not get dumped in the river – it went to highly skilled businessmen. The money is not lost – we know where it went.
Ian 19:08 on 2025-03-28 Permalink
Beat them like a piñata until thier pockets empty out. It’s the only way.