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Vegreville Development
AJN Investment & Development Secures Land Deal with Town of Vegreville
Michelle Pinon - News Advertiser
AJN Investment & Development will be the first tenant in Prosperity Industrial Park.
The Town of Vegreville, which owns the property, confirmed an agreement had been reached. Jamieson Brown, Director of Community Engagement & Economic Development, stated, “AJN has purchased a 5.53-acre lot at Prosperity Industrial Park. The lot was sold at the current asking price of $50,000 per acre, for a total of $276,500.”
Brown also pointed out that, “We’re in the final stage of servicing the entire park, specifically the installation of shallow services, which will be fully completed this spring.”
Spring is also the time when the company is expected to break ground.
Brown said, “The Town of Vegreville began marketing lots for sale at Prosperity Industrial Park in mid-2024.” As to whether this land deal will spur on further development in Prosperity Industrial Park, Brown replied, “Absolutely. The Town is currently engaged in several conversations with industry stakeholders regarding development at Prosperity Industrial Park.
As more lots are sold, it is likely to inspire additional interest and investment in the area. That being said, these types of deals often require time, as they typically involve multi-million dollar projects.
With that in mind, while we’re encouraged and excited by the interest we’ve seen so far, we remain committed to managing potential growth in a sustainable and responsible manner and are looking forward to what should be an exciting year ahead.
Mayor Tim MacPhee reported at the Jan. 23 regular council meeting that he had met with AJN officials on Jan. 23. MacPhee said company officials had returned from China where they had ordered their facility with the hope of breaking ground towards the end of March. “The equipment should be a month and a half behind that.
They’re the first one’s out there and hopefully they’ll be many more (businesses) after that.”
VNA reached out to the company for an official comment, but had not received a response prior to going to press Tuesday afternoon.
According to the AJN website: AJN building materials co. ltd, is a professional high-tech research and development company producing new wall materials, machinery and equipment and development, technology production and promotion of product applications.
The company is situated in Canada. We respond positively to the national policy on wall reforming. We have successfully developed wall panels that meet the energy-saving needs of modern architecture. We can produce more than two million square meters of various wall materials annually. The light composite wall materials produced by us are environmentally friendly, high efficient, light, solid, thin, seismic-resistant, good insulation, sound-proof, water-proof, fire-resistant, among other advantages.”
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