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Woodfibre LNG purchases pulp mill site

LNG Industry,

Western Forest Products Inc. has completed the sale of its former pulp mill site to Woodfibre LNG Limited, for a purchase price of $21.8 million.

The sale, which was announced in January 2013, includes 212 acres of industrial waterfront land located at the head of Howe Sound, near Squamish, British Columbia, as well as the associated foreshore leases, water licenses and permits.

Western Forest Products intends to use the proceeds of the sale to pay down outstanding debt and to further its strategic capital plans.

Earlier in January, Woodfibre LNG announced that the Environmental Assessment Office had accepted its application for an Environmental Assessment Certificate. The project is currently in a 180-day Application Review Phase.

Edited from various sources by Katie Woodward

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