Monday, July 22, 2013

Companies May Spend $1 Billion to Assure Access

J.D. Irving Ltd. and other forest companies are willing to spend $1 billion on mill upgrades and silviculture if the provincial government will guarantee the companies enough long-term access to Crown land, according to an official.
Mary Keith, the vice-president of communications with J.D. Irving, said the Saint John-based company and "other partners" have assembled plans for possible investments in the forest sector, which could add up to $1 billion.
"That amount is not exclusively with our company, although we do represent a significant amount of what will be potentially invested," she said.