GreenFirst Offered Support in Relocation of Kenora Sawmill

SEATTLE (Scrap Monster): The Government of Ontario has offered to help GreenFirst Forest Products Inc. with a loan of up to $17.2 million in support of the company’s plan to relocate and redevelop its Kenora sawmill over the period of next three to four years. The final offer is subject to negotiation of binding agreements.

Upon completion of the offer, GreenFirst would be able to draw down on the loan to cover approximately one-fifth of its eligible project expenditures, subject to the company meeting certain performance parameters including job-creation targets and other important project milestones.

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The location of the current facility includes 114 acres of land on the shores of the Lake of the Woods. The company believes that relocation to a new site would be immensely beneficial, as the present site has several limitations for sawmill development. GreenForst is said to have identified potential locations for a new mill site within the City of Kenora. The production from the relocated Kenora sawmill is expected to supply not only the Canadian market but also the export market in the UK.

Paul Rivett, Chairman of GreenFirst Forest Products thanked Minister Rickford and the Ontario government for their offer of support to relocate the mill. The relocation of the mill will unlock the land for redevelopment, he added.