The agreement will be revealed Tuesday afternoon during a joint announcement by the government and RCR at the Delta Hotel in Mont-Sainte-Anne.
Investissement Québec would grant a loan of $50 million to the ski resort, while RCR will have to inject an equivalent amount on its side, according to the Quebec Journal.
The funding is expected to be used to replace the ski lifts and bring the main chalet up to date.
RCR will, however, have to comply with strict security standards and resolve its ongoing dispute with SÉPAQ, otherwise the money lent will have to be repaid.
For several years, the station has been experiencing difficulties with its infrastructure. Notably, on December 10, 2022, a gondola from L’Étoile Filante crashed to the ground, an incident which caused no injuries.
Last September, The Charlevoisian indicated that the government had concluded its agreement, and that it would be announced in October.
Will Friends be satisfied?
In April, the Compagnie des montagne de ski du Québec tabled an investment plan of 100 million to acquire the resort. The Friends of Mont Sainte-Anne had added 20 million to this plan, in order to convince the Legault government, an offer which however remained a dead letter.
The president of the Friends of Mont Sainte-Anne, Yvon Charest, affirmed in an internal letter from his organization that RCR should, according to him, inject amounts “higher than the public funds promised […] from the first years of the agreement.
“It is certainly legitimate to expect that the expected share of RCR will be equal to or greater than the 120 million in private investments to which the Compagnie des montagne du Québec and its Quebec partners were firmly committed, and this, excluding investments linked to real estate development”, underlined the president of the Friends.
Contacted by The SunYvon Charest refused to comment before the details of the agreement are made public next Tuesday.
