Nova Scotia announces $124.5 million financial package for Port Hawkesbury Paper:
Last week the creditors of NewPage Port Hawkesbury voted in favour of the sale arrangement of the mill to Pacific West Commercial Corp.
With that approval, there were just 2 official decisions left before the sale of the mill will be finalized.
The Nova Scotia Utility and Review Board announced today that they have approved the lower power rate for the mill.
That leaves just the decision of the Canada Revenue Agency who must approve the advanced tax rule.
Meanwhile, the Province of Nova Scotia has announced a $124.5 million financial package for the mill, that will be renamed “Port Hawkesbury Paper“.
