J.K. Irving was among a large crowd gathered at the Irving Pulp & Paper mill in Saint John for the announcement on Thursday. (Connell Smith/CBC)
J.D. Irving Ltd. is investing $513 million in its mills across New Brunswick, the company announced to a standing ovation at its Saint John pulp and paper mill on Thursday.
The company is calling it the "largest pulp mill investment in Canada since 1993."
The announcement comes one day after the Alward government unveiled the province's new forestry plan, which increases the amount of softwood that can be cut annually on Crown land by 20 per cent, or 660,000 cubic metres.
The Irving Pulp & Paper mill in Saint John will see a $450 million investment, said co-CEO Jim Irving.
The project will be done in two phases — a new $198-million chip screening and handling system and a new $250-million pulp dryer, he said.
Work will begin next quarter and will take 18 to 20 months to complete.
The company will also make announcements at the Grand Lake Timber Sawmill in Chipman on Friday morning and at the Doaktown White Pine Mill on Friday afternoon.
No federal or provincial funds will be involved, said Irving. The province did its part with the new forestry strategy, he said.
J.D. Irving Ltd. and others forestry firms had lobbied for changes to the forestry strategy, saying they were willing to spend $1 billion on mill upgrades and silviculture if the provincial government would let them cut more wood on public land in the years to come.
The companies had argued they needed a reliable wood supply in order to have the confidence to invest in the province.
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