The provincial government issued a non-binding letter of intent to work toward extending the Mill’s existing power purchase agreement with NL Hydro for another twelve months.
Kruger acquired Corner Brook Pulp and Paper more than four decades ago and despite challenges in paper markets, they are highlighting their commitment to keeping the mill open. Yesterday, a company news release said that a significant step has been taken toward advancing its proposed $700 million diversification project at Corner Brook Pulp and Paper. The provincial government issued a non-binding letter of intent to work toward extending the Mill’s existing power purchase agreement with NL Hydro for another twelve months. This will provide stability while the project is further assessed.
In March of 2024, government announced a 6-month agreement to buy power from the mill through Deer Lake Power and that was extended twice to end last month. Kruger’s statement also said this “reflects the province’s willingness to work collaboratively with Kruger to support Corner Brook Pulp and Paper Limited’s continued operations and long-term future.”
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