Kruger proposes $700M investment to upgrade N.L. pulp and paper milll
On July 24, Kruger announced to its employees a comprehensive diversification strategy to secure future operations of Corner Brook Pulp and Paper Limited. In a press statement, the company said the strategy is contingent on a “timely endorsement by key industry partners.” Kruger is reportedly proposing to invest up to $700 million to transform the mill into a modernized and sustainable manufacturing complex.
According to the company, this project will promote the expansion of the provincial sawmill industry and provide energy and power capacity for NL Hydro, while sustaining jobs for Corner Brook Pulp and Paper operations and the provincial forestry sector. The proposed plan is also expected to create a significant number of jobs during the construction phase.
Under the plan, Kruger proposes to invest up to $700 million in an upgraded manufacturing complex. The company says the project will modernize the paper manufacturing operations, add a new pulp storage facility, upgrade site infrastructure, implement chip handling and receiving equipment and install a biomass unloading and drying system for the cogeneration facility.
The project also includes investments at the Deer Lake and Watsons Pond hydro facilities to maximize their capacity. These investments lead to the modernization and growth of the forest and harvesting sector and provide an opportunity for a potential expansion of the existing sawmills in the province.
Finally, the investment includes the construction of a private wind farm to support the operation of the modernized mill site.
In the press statement, the company stated: “Despite persistent negative market conditions, Kruger recognizes the long-term potential of the Corner Brook site and is therefore committed to withstand these ongoing challenges in the short term. Given the context of market headwinds, to move ahead with this landmark project, alignment is required without delay with all stakeholders (including Government of Newfoundland and Labrador, NL Hydro, First Nations, provincial sawmill partners, local municipalities, employees, and union leadership).”
The company also said it is in discussions with the Government of Newfoundland and Labrador regarding this proposed diversification plan.
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