Mr. Speaker, I am delighted to inform the House today that STORA Feldmill of Sweden will be carrying out a $650 million expansion of its pulp and paper facilities in Point Tupper in my riding of Cape Breton Highlands-Canso. The company made the announcement today.
The investment in a new paper plant at this location will create 800 construction jobs over the next two years. Just as important, the expansion will secure newsprint and paper production jobs over the long term in eastern Nova Scotia.
The government, along with its provincial and municipal partners, has pursued the expansion vigorously. Once again we have proven that Nova Scotia can attract international investment.
The location of the facility on the Strait of Canso on our east coast offers competitive transport costs to both the United States and Europe. The new facility is scheduled to be in operation early in 1998 and project planning has already started.
The government has proven it can be aggressive in attracting and keeping international investment in Canada.