Irving Pulp & Paper’s Saint John Mill is receiving a CA$660 million upgrade, funded by the Canada Infrastructure Bank, to replace 1970s-era equipment with state-of-the-art technology. The renovation, known as Project NextGen, will create local jobs, bolster renewable energy production, and support the region’s long-term economic growth.
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CIB loans $660 million towards Saint John Mill Modernization
Photo by Benzinga
Key Takeaways:
- The Canada Infrastructure Bank has provided CA$660 million in financing.
- Project NextGen features a new recovery boiler, steam turbine, and generator.
- Up to 145 MW of renewable energy will be generated onsite.
- Over 600 new jobs are expected in the province’s forestry supply chain.
- Irving Pulp & Paper’s modernization aims to enhance competitiveness and sustainability.
A Major Investment for New Brunswick
The Canada Infrastructure Bank (CIB) has reached financial close on a CA$660 million loan agreement with Irving Pulp & Paper. This investment kickstarts an ambitious renewal project for the company’s mill in west Saint John, New Brunswick. Known locally and within the industry as Project NextGen, the program includes extensive upgrades designed to replace aging 1970s-era technology and safeguard the mill’s competitiveness for decades to come.
Project NextGen’s Key Upgrades
At the heart of the modernization is a new recovery boiler, steam turbine, and generator that, together, will produce up to 145 megawatts of renewable energy. According to the company, roughly 50 megawatts of this power will be used to run the mill’s operations more sustainably, with the remaining output supplied to the NB Power grid under a power purchase agreement.
Job Creation and Economic Growth
Based on a third-party economic impact assessment provided by Irving Pulp & Paper, the modernization could benefit the regional economy significantly. During construction alone, the project is forecast to generate about CA$539 million in employment impacts. This phase of development will support more than 600 new jobs in New Brunswick’s forestry supply chain, reflecting the mill’s role as one of the province’s largest private employers and exporters.
A Brighter, Greener Future
By investing in renewable energy production and cutting-edge technology, Irving Pulp & Paper is ushering in a new era for the Saint John Mill. In addition to boosting New Brunswick’s energy output and fostering local job opportunities, Project NextGen underscores a shift toward more sustainable and resilient industrial practices. The initiative’s focus on best-available technology not only benefits the company’s bottom line but also highlights the growing importance of environmentally conscious infrastructure investment for Canada’s future.
