Mr. Speaker, a major announcement was made by Nortel yesterday. It is going to invest close to $340 million in facilities in Canada, creating 1,450 specialized occupation positions in Montreal and 850 in Ottawa.
The company is doing so in order to meet the constantly growing demand for optical telecommunications products to be used with the Internet, this being an area in which Nortel is considered a world leader.
The Canadian government is delighted with this good news for the economy, since it proves that conditions are right for new investments such as this one announced by Nortel. These conditions give confidence to key economic decision makers.