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April 19, 2007
Forest Sector Prosperity Fund Supports Investment That Will Secure Jobs For Northerners
TERRACE BAY — The Ontario government is strengthening the forest industry and supporting the development of renewable energy by making an important investment under the Forest Sector Prosperity Fund, Natural Resources Minister David Ramsay announced today at an event with Terrace Bay Pulp Inc.
“The McGuinty government is investing in the businesses that help Northern Ontario prosper,” said Ramsay. “Through the Prosperity Fund, we are supporting a key engine of our economy – the forest sector – making that sector more competitive, securing good jobs in the North and developing clean, renewable energy sources.”The government is providing a grant of $11 million and a loan guarantee of $11.5 million to Terrace Bay Pulp for the installation of a $45-million condensing steam turbine to generate electricity. The turbine will generate about 30 megawatts of power for use at the facility, and help secure employment for about 350 mill employees.
“This project is an important boost to Terrace Bay Pulp that will help secure much needed jobs in the forest sector and the community,” said Michael Gravelle, MPP for Thunder Bay-Superior North. “This is great news, particularly in light of the challenges facing the sector in Northwestern Ontario.”
“Greater use of cogeneration is part of our plan to build a new energy future for the province,” said Energy Minister Dwight Duncan. “I commend Terrace Bay Pulp for moving ahead on this project that will help the company reduce its energy costs.”
“The installation of this turbine will go a long way towards helping us be more competitive and efficient,” said Bob Baxter, general manager of Terrace Bay Pulp. “We are very appreciative for the contribution from the Forest Sector Prosperity Fund and the Loan Guarantee program in making it possible for us to move ahead with this important upgrade to our facility.”
The Forest Sector Prosperity Fund is part of the McGuinty government’s over $1-billion plan to help forest companies invest in their own future and the future of the communities that depend on them.
“We’ve had a very positive response to the Forest Sector Prosperity Fund and the Loan Guarantee Program by the forest industry,” said Ramsay. “We expect that 100 per cent of the Prosperity Fund will be committed to capital investments like this that support the industry in strengthening its competitiveness.”
This is just the latest example of how the McGuinty government is working to create a stronger and more prosperous forest sector. Other initiatives include:
- Providing a grant of $280,000 to Garden River Truss Company for the development of a $3.2-million value-added manufacturing facility on the Garden River Reserve near Sault Ste. Marie
- Providing a $22.5-million grant to Abitibi-Consolidated for an $84-million biomass boiler at its facility in Fort Frances
- Providing a $6-million grant to Norampac for a $27-million biomass co-generation plant at its facility in Trenton
- Providing a loan guarantee of $8 million to Tembec for a $19-million value-added engineered wood products facility in Kirkland Lake
- Providing a $1.65-million grant to Flakeboard Company Ltd. for a $16.5-million capital investment to upgrade its Sault Ste. Marie mill
- Providing a $1.39-million grant to Bowater Canadian Forest Products Inc. for a $13.9-million capital investment in the conversion of a paper machine at its Thunder Bay complex
- Providing a $2-million grant to Grant Forest Products for the construction of a $20-million coated structural board facility – the first of its kind in North America – in the community of Earlton
- Providing a $2 million loan guarantee for new machinery and upgrades to Fibratech in Atikokan
- Providing a $400,000 grant for capital investment in new machinery to Multiply Forest Products in Nipigon.
Since 2003, investments in infrastructure, post-secondary education, research and innovation and key economic sectors have strengthened Ontario’s economic advantage and continue to build opportunity.
- MAKING THE FOREST SECTOR MORE COMPETITIVE
FOR MORE INFORMATION
Communications Services Branch
Natural Resources Information Centre
TTY 1-866-686-6072 (Hearing Impaired)
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