A Nova Scotia pulp mill has received a loan package and money for refinancing from the province that it will use to upgrade the mill.
The Northern Pulp mill received a $14.7 million from the province in the form of a repayable loan, with another $2.5 million in a forgivable loan, provided job creation targets are met. The company also received $5.4 million for refinancing a loan from 2009.
Don Breen, general manager for Northern Pulp, said some of that money to buy a new wood chipper and a new piece of equipment that filters gases produced by the plant.
"These are two excellent projects, not only for the mill but for the county, they will directly benefit from better air quality, additional jobs and we would be a stronger competitive in rural Nova Scotia," he said.
The company is also contributing some of its own money to the upgrades, including about $5 million for the new wood chipper.
The mill employs 250 people in Pictou County and expects to add another 20 jobs.The funding agreements were made public on Friday, the same day the province announced a partnership with Heritage Gas to bring a new pipeline to the area and the mill.