New Brunswick Government lends $9 million to Irving Paper for new boiler

Apr 10, 2008. /Lesprom.com/. The Government of New Brunswick will provide Irving Paper with a $9-million term loan to assist with the facility upgrades. “Our government recognizes how integral it is for companies to improve their operations, and we want to support them as they invest in upgrades and efficiencies to increase their competitive edge in the world market,” said Greg Byrne, Business New Brunswick Minister. “I am confident that continuing to build strategic partnerships such as this one with Irving Paper will help move New Brunswick further toward self-sufficiency by 2026.” “Today’s investment in energy efficiency is good for the environment and for business,” said Mark Mosher, Vice President of Pulp and Paper operations for J.D. Irving, Limited. “The new boiler will reduce our consumption of heavy fuel oil by 71,000 barrels per year (a 17% decrease) and reduce related carbon dioxide emissions by 16%. A further 26% reduction of sulphur dioxide emissions will also be achieved as a result of this project. When operation of the new boiler begins we will no longer need the Courtenay Bay II generating station. This paper mill is the most modern in North America today and we are focused on ensuring it is competitive regarding energy costs. We appreciate the repayable loan provided through Business New Brunswick which will help narrow the gap.” “This announcement stems from our government’s commitment to help industry become more energy efficient and more productive,” added Byrne. “We are committed to our forest industry and it is encouraging to see Irving investing in its operations.” The 340 employees of Irving Paper produce 420,000 metric tonnes per year of high grade value-added paper. This mill generates $36 million per year in annual payroll and $100 million per year in purchases of wood, goods and services from New Brunswick suppliers. During construction, the new boiler will generate 100,000 man hours of work for local contractors.