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Canada: Federal aid planned $ 250 million automotive

The Government of Canada is preparing to spend another envelope of $ 250 million of public funds to the Canadian automotive industry and its suppliers.

The "Globe and Mail" reported that Prime Minister Stephen Harper will benefit from a presence, Friday noon, has an assembly plant of the company Ford in Oakville, Ontario, to confirm a Five-Year Renewal Innovation Fund for automotive sector, which had been established in 2008.

This Fund supports research and development axes on the development of innovative vehicles, more ecological and lower fuel consumption.

To be eligible for this, companies doing business in Canada must submit proposals for private sector investment in the country valued at over $ 75 million over five years

However, the renewal of the Fund comes amid controversy. At the end of last month, General Motors of Canada announced in 2015, the assembly of the Chevrolet Camaro would be transferred to a plant in Oshawa, Ontario, another of the State of Michigan.

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