N.S. officials redouble mill restart efforts
Despite setbacks, a deal with Nova Scotia officials to reopen the former NewPage paper mill in Port Hawkesbury still has support from the province's minister of natural resources, according to the Bangor Daily News.
Maine paper industry leaders have said the reopening of that mill, which closed nearly a year ago, could undercut Maine's paper prices.
The BDN reported that Charlie Parker, Nova Scotia's minister of natural resources, is working to restructure a $124.5 million loan package for Pacific West Commercial Corp., which has its eyes set on purchasing the mill.
Leading up to a purchase, Pacific West requested that the Canada Revenue Agency allow the company to restructure a 10-year tax deal that had been reached between Richmond County and the mill's previous owners, according to the Chronicle Herald, out of Halifax.
A judge threw out the company's argument on Monday, dismissing the company's argument that its tax bill should have been cut about $2.2 million annually.
Pacific West officials told the Herald that the judgment won't affect the company's plans to open the mill within the next month and provincial officials are expected to release updated details of the restructured loan proposal later this week.
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