Province Making Final Disbursement to Northern Pulp Under Now-closed Jobs Fund

The province is making the final disbursement to Northern Pulp Nova Scotia Corp. under the now-closed Jobs Fund.

In April 2013, government committed $21.7 million in loans and earned incentives to the company for capital projects to improve air quality and efficiency, including a new precipitator, wood chip plant construction and natural gas conversion.

The final disbursement of $13.7 million includes about $12 million for the precipitator and $1.7 million for the natural gas conversion.

The company has met the terms and conditions of the agreement signed in April 2013 for the purchase and commissioning of equipment.

Northern Pulp had two other Jobs Fund agreements, $15 million for working capital in 2009 and $75 million for land purchase in 2010. All Jobs Fund agreements to Northern Pulp under the previous government, totalling $111.7 million, have now been fully disbursed.