TERRACE BAY – Leaders Ledger – I was delighted to be in Terrace Bay this past Friday August 24, 2012, to join Mayor Mike King and Vijay Kaul from Aditya Birla Group (Birla) in celebrating the agreement to purchase the Terrace Bay mill.
Through its affiliate, AV Terrace Bay Incorporated, the multinational corporation Birla has purchased the idled mill. Birla plans to invest more than $250 million to convert it to a value-added biofibre facility producing dissolving pulp for rayon – the first of its kind in Ontario.
The re-opening of the mill is good news for the community, for the northwest and for Ontario as a whole. I’m proud that my government has helped attract this new investment to the province that will create jobs and open up new markets for Ontario bio-products.
Getting the mill up and operating again will support more than 275 direct mill jobs, 335 woodland jobs and an estimated 1,300 indirect jobs province-wide. The mill will also contribute approximately $22 million annually to provincial revenues when running at capacity.
Local contractors have already begun working on the necessary maintenance and repairs to the mill. Delivery of wood has started, people are being called back, and positions have been advertised.
Birla’s investment in Ontario represents a welcome vote of confidence in our forest industry. Most of all, it’s a boost for long-term prosperity for the region and a brighter future for the people of Terrace Bay and surrounding communities. That’s something we can all celebrate.
Minister of Natural Resources