Location: Bathurst, New Brunswick
Project Type: Brownfield Redevelopment
Size: 225 Acres
Property Origin: Smurfit-Stone Mill
SSPM BATHURST, L.P., an affiliate of GIGI, purchased the former Smurfit-Stone mill in Bathurst, New Brunswick in January 2010. This was the first Smurfit-Stone paper mill purchased in Canada by GIGI.
The Bathurst project is currently in Phase I, which involves planning for future use of the site. Activity involving analysis of the site and existing infrastructure will commence in the first half of 2010, followed by the commencement of clean-up and reconfiguration of the site to position it for redevelopment.
Anticipated timeframe for Phase I – involving acquisition, remediation, planning and reconfiguration – is 18 months and is anticipated to cost approximately $15 million (US). Opportunities for Phase II development are being considered. GIGI has and will continue to work with local business & governmental agencies with the goal of creating innovative, alternative energy projects that enhance the Bathurst region. The plan anticipates focusing on utilizing technologies that focus on energy generation, alternative fuels and waste-to-energy conversion.
GIGI’s initial investment in Bathurst was between $3 and $4 million (US).
Download the Project Fact Sheet in PDF format (590kb)
|
|
|
|
|
|
|
|