Latest news with #feasibility study
BBC News
17 hours ago
- Politics
- BBC News
North Tyneside Council defends £100k feasibility study for tip
A council has defended its commitment to spend £100,000 on a feasibility study for a new recycling Tyneside Council's Labour administration pledged to consider a new household waste facility in Killingworth earlier this Conservative councillors branded the prospect "unpopular and unnecessary" during an exchange at a meeting of the full Bones, the opposition group leader, told the meeting there was already "a perfectly good facility" minutes away in Brunswick and the plans were too expensive. "If this was about delivering better services we'd be sitting down with Newcastle City Council and working out a sensible arrangement for shared access," Bones member for climate emergency Sandra Graham said several attempts had been made to negotiate shared access to the Newcastle City Council tip over the past five years, but requests had been rejected by the neighbouring North Tyneside Labour administration said the prospective tip would help reduce journeys from the north west of the borough to the only other recycling centre on Wallsend Road in North was told data gathered from the centre showed a need for a closer facility, the Local Democracy Reporting Service said the plans would increase recycling "for the public good"."In line with what residents have been asking for we have commissioned this feasibility to see if such a facility in the north west might be possible," she added. Follow BBC North East on X, Facebook, Nextdoor and Instagram.
Yahoo
15-07-2025
- Business
- Yahoo
Northern Pulp to initiate sale of assets
Northern Pulp has announced it will initiate a court-supervised sales process of its assets after it confirmed it wasn't able to secure funding for a new mill project. In a news release Monday night, the insolvent company said the decision follows completion of a comprehensive feasibility study that concluded Northern Pulp could not achieve the 14 per cent internal rate of return required in a settlement agreement with the province to develop a bleached softwood kraft pulp mill and bioproducts hub near Liverpool, N.S. "Northern Pulp is thankful for the support and collaboration of the Province of Nova Scotia and local stakeholders throughout the feasibility study," the company said in the release. Northern Pulp, owned by Paper Excellence Group in British Columbia, said proceeds from the asset sales will repay debt incurred throughout the Companies' Creditors Arrangement Act process, fund pension plans and contribute to site maintenance and closure costs. Remaining money will be allocated to the province. Northern Pulp has been under creditor protection since June 2020 after it closed its kraft pulp mill in Pictou County, eliminating 300 jobs and affecting another 2,000 positions in the forestry sector. The government ordered the shutdown after Northern Pulp failed to meet the province's environmental requirements for a new effluent treatment plant. At the time, the province's Liberal government said the mill in Abercrombie Point could no longer dump its waste into Boat Harbour near the Pictou Landing First Nation. In May of last year, a settlement agreement between the province and Paper Excellence ended years of legal wrangling. Paper Excellence withdrew a $450-million lawsuit against the province and abandoned plans to reopen its idled mill. The agreement said that if the company resumed operations elsewhere, it required an internal rate of return of 14 per cent. The company's most significant asset is 192,000 hectares of timberland in Nova Scotia. The province loaned the company $75 million in 2009 to make the purchase in an effort to protect jobs. Nova Scotia's minister of natural resources said Northern Pulp's announcement was "not the outcome we had hoped for." Tory Rushton said in a release that the province did everything it could to make a new sustainable pulp mill a reality in Nova Scotia. "From the outset, our government was at the table, working closely with the company to explore every viable option. We provided meaningful support and discussed programs like our Capital Investment Tax Credit that could have offered significant financial assistance." Rushton said the province remains "a steadfast partner with the industry in exploring how we might work together — and with the federal government — in attracting a new partner that sees the potential in doing business here," he said. He said the province will continue to support forestry families and communities. "We remain open to bold ideas and strong partnerships that put our natural resources to work in ways that benefit all Nova Scotians," he said. Earlier this year, officials with Northern Pulp filed paperwork requesting an extension of the company's creditor protection as it sought to determine if there was a viable future for its operation in Nova Scotia. The company is due back in court at the end of the week as part of the process. When the settlement agreement closed the history of the pulp mill's operation in Pictou County, it was announced that the focus would shift to conducting a feasibility study to consider if building a new operation at or near the site of the former Bowater Mersey Paper Company outside Liverpool would be viable. MORE TOP STORIES
CBC
15-07-2025
- Business
- CBC
Northern Pulp to initiate sale of assets
Northern Pulp has announced it will initiate a court-supervised sales process of its assets after it confirmed it wasn't able to secure funding for a new mill project. In a news release Monday night, the insolvent company said the decision follows completion of a comprehensive feasibility study that concluded Northern Pulp could not achieve the 14 per cent internal rate of return required in a settlement agreement with the province to develop a bleached softwood kraft pulp mill and bioproducts hub near Liverpool, N.S. "Northern Pulp is thankful for the support and collaboration of the Province of Nova Scotia and local stakeholders throughout the feasibility study," the company said in the release. Northern Pulp, owned by Paper Excellence Group in British Columbia, said proceeds from the asset sales will repay debt incurred throughout the Companies' Creditors Arrangement Act process, fund pension plans and contribute to site maintenance and closure costs. Remaining money will be allocated to the province. Northern Pulp has been under creditor protection since June 2020 after it closed its kraft pulp mill in Pictou County, eliminating 300 jobs and affecting another 2,000 positions in the forestry sector. The government ordered the shutdown after Northern Pulp failed to meet the province's environmental requirements for a new effluent treatment plant. At the time, the province's Liberal government said the mill in Abercrombie Point could no longer dump its waste into Boat Harbour near the Pictou Landing First Nation. In May of last year, a settlement agreement between the province and Paper Excellence ended years of legal wrangling. Paper Excellence withdrew a $450-million lawsuit against the province and abandoned plans to reopen its idled mill. The agreement said that if the company resumed operations elsewhere, it required an internal rate of return of 14 per cent. The company's most significant asset is 192,000 hectares of timberland in Nova Scotia. The province loaned the company $75 million in 2009 to make the purchase in an effort to protect jobs. Nova Scotia's minister of natural resources said Northern Pulp's announcement was "not the outcome we had hoped for." Tory Rushton said in a release that the province did everything it could to make a new sustainable pulp mill a reality in Nova Scotia. "From the outset, our government was at the table, working closely with the company to explore every viable option. We provided meaningful support and discussed programs like our Capital Investment Tax Credit that could have offered significant financial assistance." Rushton said the province remains "a steadfast partner with the industry in exploring how we might work together — and with the federal government — in attracting a new partner that sees the potential in doing business here," he said. He said the province will continue to support forestry families and communities. "We remain open to bold ideas and strong partnerships that put our natural resources to work in ways that benefit all Nova Scotians," he said. Earlier this year, officials with Northern Pulp filed paperwork requesting an extension of the company's creditor protection as it sought to determine if there was a viable future for its operation in Nova Scotia. The company is due back in court at the end of the week as part of the process. When the settlement agreement closed the history of the pulp mill's operation in Pictou County, it was announced that the focus would shift to conducting a feasibility study to consider if building a new operation at or near the site of the former Bowater Mersey Paper Company outside Liverpool would be viable.
