Orenda alive and well ANY RUMOURS circulating that Orenda Forest Products is calling off its plan to build a $500 mil- lion pulp and paper mill south of Terrace simply aren’t true, says a company official. "There's no substance to those rumours. We have been active on the project and continue to be ac- live,”’ said Orenda vice president Frank Foster last week. The company has spent several years trying to find privale moncy to help finance the project. It has also asked the provincial government for a $100 million loan guarantee as security to help attract private investment. But the province says it first wants Orenda to lock up some in- vestment money before consider- ing the loan guarantee any fur- ‘ther. Orenda’s plan calls for nearly $400 million of the $500 million to come from loans organized by a consortium of nine banks. Orenda first began promoting its plan in the late 1980s, saying first it wanted to build a wood processing facility in the Meziadin area, the location of its wood supply. But the company switched loca- tions to the Dubose area south of Lakelse Lake after deciding it wasn’t feasible to build at Meziadin. The company wants to build a mil] that'll grind up pulp into A12- The Terrace Standard, Wednesday, October 19, 1994 f No, it’s not over | Frank Foster fibre for paper, a process it says is more cnvironmentally friendlier than standard pulp mills which use chemicals. It has spent more than $4 mil- lion to date on the project, using profits gained by logging under a forest licence it has in the Meziadin area. The wood from the licence will be used to feed the new mill. Foster said lack to date of find- ing private money shouldn’t be taken as a sign the project is in trouble. “How may companies have a timber supply with no mill at- tached to it? 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And that, said Foster, now puts Buy An Excellent Selection of Fashion Fabrics and Home Decor Of equal or lesser value ‘ (full meter cuts only) Patterns (in store stock) Buy 1 Get 2 Free (of equal or lesser value) 1m Get 2m Free the project at a critical stage. “FE don't know if. we have to have the mill up and running by then. I] would expect if.the mill was under construction, — there would be some consideration given to that,’* he said. ‘We certainly are trying to have something underway at that time for that deadline,’ Foster added. Down Duvets Quilts REG. 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