Newfoundland to expropriate some AbitibiBowater assets
NEWFOUNDLAND AND LABRADOR - The Canadian province of Newfoundland and Labrador is moving to expropriate some assets owned by AbitibiBowater Inc., the worldÂ’s largest newsprint maker.
The provincial government will acquire the companyÂ’s ownership of hydro-electricity rights from the generating station at Star Lake, in addition to rights to harvest timber on government land, the news agency said, citing a statement today from Premier Danny Williams.
Assets to be expropriated do not include AbitibiBowaterÂ’s newsprint mill in Grand Falls-Windsor, Newfoundland.
Montreal-based AbitibiBowater announced December 4 it would close the mill, part of a plan to reduce costs as North American demand for newsprint declines.
Related News
BC residents split on going nuclear for electricity generation: survey
VANCOUVER - There is a long-term need to produce more electricity to meet population and economic growth needs and, in particular, create new clean energy sources.
Increasingly, in the worldwide discourse on climate change, nuclear power plants are being touted as a zero-emission clean energy source and a key solution towards meeting reduced emissions goals. New technological advancements could make nuclear power far safer than existing plant designs.
When queried on whether British Columbia should support nuclear power for electricity generation, respondents in a new province-wide survey by Research Co. were split, with 43% in favour and 40% against.
Levels of support reached…
