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Canada Infrastructure Bank

Ecosystem Private
Headquarters
Toronto, CA
Segment
Investors & Advisers
Stories held
1
Last story
13 Sep 2026

Canada Infrastructure Bank is a federal Crown corporation headquartered in Toronto that invests in infrastructure projects considered to be in the public interest, including clean power, trade and transportation, and green infrastructure. It provides loans and other financing alongside private and institutional investors, with a mandate covering tens of billions of Canadian dollars in capital.

1 stories · 2026

Irving Pulp & Paper receives first components for CAD 1.5bn mill upgrade

The first barge of major equipment for Irving Pulp & Paper's CAD 1.5bn Project NextGen arrived at the company's Saint John, New Brunswick mill site on 13 September 2026. The upgrade, backed by a CAD 660m loan from the Canada Infrastructure Bank closed in September 2025, will add a new recovery boiler, steam turbine and green energy generator while retiring an oil-fired boiler. It is expected to cut kraft pulp emissions per tonne by 50%, make the mill energy self-sufficient and lift softwood kraft pulp output by over 70%.

Why this mattersA single mill moving into the global top ten for softwood kraft with 70% more output shifts NBSK supply and the fibre cost curve for premium tissue buyers.

  • First barge of major components for Project NextGen arrived at Lee Cove, Saint John, on 13 September 2026
  • Project NextGen is a CAD 1.5bn upgrade of Irving Pulp & Paper's west-side kraft pulp mill in Saint John, New Brunswick
  • The Canada Infrastructure Bank closed a CAD 660m loan to Irving Pulp & Paper in September 2025 to support the project
  • The project includes a new recovery boiler, steam turbine and green energy generator, and decommissioning of an oil-fired boiler
  • The upgrade is expected to cut emissions per tonne of kraft pulp by 50% and make the mill energy self-sufficient
  • Once complete, the mill's softwood kraft pulp output is expected to rise by more than 70%, placing it among the top 10 global producers
J.D. Irving Canada Infrastructure Bank counterparty
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