The provincial government is not standing in the way of the sale of a north shore mill to a company from India. Court documents show that the McGuinty government is forgiving a nearly 25 million dollar loan to Terrace Bay Pulp, something Natural Resources Minister Michael Gravelle says will help with the sale of the mill, and will help creditors get paid more money. The new company plans to convert the mill to make rayon.
Monday, July 16, 2012
Court Documents Reveal Government Role
The provincial government is not standing in the way of the sale of a north shore mill to a company from India. Court documents show that the McGuinty government is forgiving a nearly 25 million dollar loan to Terrace Bay Pulp, something Natural Resources Minister Michael Gravelle says will help with the sale of the mill, and will help creditors get paid more money. The new company plans to convert the mill to make rayon.
