Abitibi splits hydro
July 25, 2006 By Pulp & Paper Canada
Abitibi-Consolidated is seeking to split its hydroelectric generation assets into a subsidiary, Miner and News has …
Abitibi-Consolidated is seeking to split its hydroelectric generation assets into a subsidiary, Miner and News has reported.
Included in the division would be power dams in Kenora.
Vice president in charge of communications Seth Kursman said in response to questions on the split, “we are transferring some of our hydro assets to another Abitibi-Consolidated affiliate. This is part of our overall plan for growing our power business. We need, over the next few months, to go through the regulatory process in Ontario, to receive the appropriate licenses and approvals for this affiliate.”
Miner and News further reported that Kenora mayor Dave Canfield was candid in his speculation on the split, and discussed the possibility of taking over the dams; effectively merging them with the city’s own power utility.
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