A federal financing agency is loaning a new industry in Hawkesbury $32.1 million to build its plant.

On June 21, Omar Alghabra, the Parliamentary Secretary to the Minister of International Trade Diversification announced the loan from Export Development Canada (EDC) to Ecolomondo, a Montréal-based tire recycler that is building a new plant on an extension of Tessier Street in Hawkesbury.

The announcement was made in the parking lot of Maylan, the Hawkesbury construction company that is building the plant.

Alghabra said he was pleased to see a project that is using a local contractor and that companies like Ecolomondo are dealing with the challenges posed by plastics and other hydrocarbon waste.

Guillermo Freire of EDC said Ecolomondo has shown creative thinking.

Ecolomondo President Eliot Sorella envisioned this project 10 years ago and said it will create limited emissions and use small amounts of water.

“And, it’s almost self-sustained in energy,” Sorella said.

Mayor Paula Assaly said the job creation and new construction is welcomed.

According to Sorella, Ecolomondo is expected to create 65 direct and indirect jobs during its initial operations.

Maylan President Daniel Landry said the large project is good exposure for his company and that construction on the new plant is expected to begin in August.

Using its own technology to extract carbon products from waste material, the Ecolomondo plant in Hawkesbury expected to recycle 1.4 million tires during its first year of operation and will produce 28 million pounds per year of materials for re-use by industry.