AbitibiBowater's emergence from bankruptcy protection could help to revive a major project at the company's Thunder Bay pulp and paper mill.
Work on a condensing turbine for the mill was put on hold last year. The company blamed declining economic conditions for putting the project on pause. That turbine would help make the mill energy self-sufficient.
But now there is word the project will soon be restarted. As part of its agreement with the province regarding outstanding pension benefits, the company has agreed to invest a minimum of $50 million over the next three years to complete the project.
AbitibiBowater will receive assistance from the government's Forest Sector Prosperity Fund to help finance the work.
Excess power produced by the turbine will be sold to the Ontario Power Authority.
Sign in or register
- Messages
- Post a Listing
- Your Listings
- Your Profile
- Your Subscriptions
- Your Likes
- Your Business
- Support Local News
- Payment History
Registered Users
Already have an account?
New Users
Create a free account.
