Province investing $50-million to save Bowater Mersey mill
Posted Dec 2, 2011 12:07:04 PM.
This article is more than 5 years old.
The Bowater Mersey pulp and paper mill is getting a huge boost from the provincial government.
Premier Darrell Dexter, in Liverpool, has announced the province will loan the financially troubled mill $25-million under the Nova Scotia Jobs Fund. This will be a forgivable loan, meaning the province will forgive $5-million a year for five years as long as the mill remains open and operating at the current standards.
As part of the multi-million dollar plan to keep the mill open, the province has also agreed to buy 25-thousand acres of the company’s land for $23.7-million.
The agreement also includes $1.5-million for workforce training.
Premier Dexter says this is an important investment which will keep the mill open and will save up to 2,000 rural Nova Scotia jobs.
