CIB loans $660 million towards Irving-Saint John Mill Modernization 

  • Known as Project NextGen, the mill’s modernization plans include a new recovery boiler, steam turbine and generator to produce up to 145 MW of renewable energy.
  • The mill’s increased capacity will create more than 600 new jobs in the province’s forestry supply chain.
  • Saint John Mill is owned and operated by Irving Pulp & Paper, one of New Brunswick’s largest employers and exporters.

The Canada Infrastructure Bank (CIB) has reached financial close on a $660 million loan to Irving Pulp & Paper to support the large-scale modernization of the company’s pulp mill in west Saint John, New Brunswick.

Enabled by the CIB’s partnership, the modernization project consists of replacing 1970s era technology with current best-available solutions to improve productivity and maintain mill competitiveness within the sector. This includes a new recovery boiler, steam turbine and generator to produce up to 145 megawatts of renewable energy.

CIB loans $660 million towards Saint John Mill Modernization

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