Though Pacific West Commercial Corp. had said a ruling in its favour was a condition of restarting the mill, the company said in a release Friday that it expects it can restart the facility by the end of the month.
Natural Resources Minister Charlie Parker said the province’s package will be “restructured” so more of the loans are forgivable. He said details will be released early next week.
The province’s assistance, announced in August, included $40 million in repayable loans, $26.5 million in forgivable loans, $20 million for the province to buy land, and $38 million over 10 years to support sustainable harvesting and forest land management.
Parker said the changes won’t leave taxpayers pouring more money into Pacific West Commercial Corp.’s operation at the former NewPage Port Hawkesbury mill in Point Tupper.
