Canadian beef plant receives US$1.96 million grant

The Prince Edward Island, Canada, government has budgeted CA$2 million (US$1.96 million) for Atlantic Beef Products in Albany, the region's only federally-inspected beef plant.

The plant opened in 2003 with the support of all three Maritime provinces and the federal government. Since then it has received a series of bail outs. As of September, it had lost CA$30 million (US$29.51 million). At that time it was bleeding CA$150,000 (US$147,589) a month. Current losses at the plant are CA$80,000-100,000 (US$78,714-98,410) a month.

However, some critics doubt the money government is setting aside this year will be enough.

Meanwhile, The company said a new hamburger line will soon be up and running, and hopes that will be the turning point in making the plant profitable.