Niutech Environment Technology Corporation signed an MOU with the Municipality of Chatham-Kent to invest $15 million to establish a Canadian manufacturing base, research and development centre, and demonstration projects to showcase the advanced features of the company’s tire/plastic waste recycling system.
Municipal officials say this investment will also create 50 jobs.
The owners of Niutech have met on several occasions with Mayor Hope and the Chatham-Kent Economic Development team, including a visit to Chatham-Kent last month.
While the commitment in the MOU is non-binding, it represents a positive step forward in the company’s plans to invest in CK.
Additional information will be shared with Chatham-Kent council when Michael Burton, director of investment attraction and government affairs, returns from China.
“With all the meetings with Chatham-Kent, we have seen a fantastic investment environment,” stated Mr. Niu, president of Niutec.
“We look forward to this investment in Chatham-Kent. This is our entry into the North American market. We are very happy to move our project forward.”
– Photo credit: Niutech Environment Technology Corporation on Facebook
