Massive irrigation development project coming to Alberta
December 22, 2020 By Top Crop Manager
The Canada Infrastructure Bank (CIB), the Alberta provincial government and eight irrigation districts have formalized an agreement for the Alberta Irrigation Project, with the CIB investing $407.5 million.
Alberta’s government will contribute $244.5 million and the irrigation districts will contribute a cumulative $163 million to build modern irrigation infrastructure and significantly expand irrigable land opportunities.
After signing a memorandum of understanding in October, all partners have worked together diligently to close the financial transaction. At this point, all contractual steps are complete.
This project is the single largest irrigation expansion in Alberta’s history, and is intended to benefit the province’s economic growth and create jobs and new infrastructure.
“This is a massive deal for farmers, ranchers and food processors across Alberta,” said Devin Dreeshen, Alberta’s minister of agriculture and forestry, in an official statement. “Our province is a leader in Canadian agriculture, and more irrigated acres means more investments, local jobs and the ability to feed a growing global population. Irrigation already contributes up to $3.6 billion to Alberta’s GDP and this deal will further diversify our economy, which is good news for Albertans and Alberta farm families.”