Project - New Richmond, Quebec
Location: New Richmond, Quebec
Project Type: Brownfield Redevelopment
Size: 225 Acres
Property Origin: Smurfit-Stone Mill
Redevelopment Plan & Progress
SSPM New Richmond, L.P., an affiliate of GIGI, purchased the former Smurfit-Stone paper mill in New Richmond, QC in January 2010. The New Richmond site was the third Smurfit-Stone plant purchased in Canada by GIGI.
GIGI’s initial investment in the New Richmond facility was in excess of $3 million. Phase I, which is expected to begin mid 2010 and be completed by mid 2011, will include clean up, remediation, reconfiguration and reorganization of the site. Development plans for the site are currently being formulated as the clean up process is underway. Phase I will cost approximately $15 million (US) and will create opportunities for local businesses specializing in construction, renovation and repair.
Phase II of development, specifically the redevelopment and repopulation of the site, will begin upon completion and approval of remediation and planning efforts.
- International export of products through a Green Investment Group owned and operated wharf.
- Secured tenant - Fabrication Delta
- Invest Quebec 40% Refundable Tax Credit