There is another land transaction program taking place in Nova Scotia.
There is another land transaction program taking place in Nova Scotia.
Bowater Mersey Paper Company has struck a deal with the province whereby lands it owns that are deemed to be of ‘exceptional conservation and recreational value’ will be assessed and offered for sale to the province. For its part, Nova Scotia has plans to spend a total of $26 million over the next two years to buy up the lands.
Bowater is hopeful that proceeds from these sales will prop up its finances to such an extent that it will be able to pursue other investments.
“The funds from the sale of these lands will provide relief as we continue to look for solutions to issues and costs pressures that are adversely affecting our competitive advantage,” said Bruce Nunn, vice president and resident manager of Bowater Mersey.
The agreement covers area of Bowater-owned lands in Western Nova Scotia that include old growth Acadian forests, sites of rare and endangered species, forest recreation trails, and coastal and inland water frontage.
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