TERRACE BAY – “Our government has worked hard to support efforts leading to the reopening of this mill. We are ecstatic that we have been able to successfully conclude this process and get so many people back to work,” stated an excited Michael Gravelle, Minister of Northern Development Mines and Forestry.
Ontario is helping more than 300 people return to work at the Terrace Bay Pulp Inc (TBPI) mill in Terrace Bay.
With financial support from the provincial government, TBPI will reopen its mill. TBPI has a significant economic impact in the region, providing direct jobs in the mill as well as supporting employment in woodlands operations and the transportation industries which supply the mill. The mill is recognized in the industry as producing one of the best premium reinforcement pulps in the world.
– The province is providing a conditional $25 million term loan to TBPI to help refinance the restart of the mill.