The provincial government says expanding the power purchase agreement with Corner Brook Pulp and Paper for another year will allow it to “carefully review” Kruger’s proposed diversification plans.

Kruger says part of its plan to revitalize operations at the mill and secure its future is to repay the money it owes to the provincial government.

The original loan to Kruger was $110,000,000.

Three principal payments of $1.85 million each were made in 2019, but nothing afterward.

As of June 30th of this year, the province says the balance owed to government by Kruger was $135,758,410. That includes the $104 million principal and more than $31 million in interest.