(Under construction)
Creating jobs, expanding agriculture production and growing Alberta economy
The two-phase project involves construction of modern irrigation infrastructure and significantly expanding irrigable land opportunities within ten irrigation districts. Phase one work is expected to result in approximately 56,100 new irrigated acres. Phase two is expected to result in approximately 143,800 new irrigated acres.
Fast facts
The primary objectives of phase 1 are to improve the efficient delivery of water, increase irrigation opportunities and to reduce water loss. With phase 2, the project aims at enhancing water security and supply within the South Saskatchewan River Basin and allow for an earlier start to the irrigation season.
Modernizing irrigation infrastructure can increase primary crop production, water storage capacity and security. The project will also support long-term food processing businesses.
The project is the single largest irrigation expansion in Alberta’s history and will help grow Alberta’s economy and create jobs.
The Alberta government will contribute $244.5 million and the irrigation districts will contribute $163 million to build modern irrigation infrastructure and significantly expand irrigable land opportunities.
Term (years): 35
Benefits of the CIB’s involvement
Agriculture sector growth can face obstacles in attracting long-term private capital to finance large projects due to the generally uncertain nature of revenues. We are using an innovative financing approach to invest in projects which face these challenges.
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