# CIB loans $660 million for Irving Pulp & Paper mill modernization in Saint John

The Canada Infrastructure Bank provided a $660 million loan to Irving Pulp & Paper for the modernization of its Saint John mill, including a new recovery boiler, steam turbine and generator to produce up to 145 MW of renewable energy, creating over 600 new jobs.

- Type: Investment
- Announced: 2025-09-26
- Where: Saint John, New Brunswick, Canada
- Value: $490.0M (660.0M CAD)
- Jobs: 600
- Status: announced
- Capacity: 145 MW renewable energy
- Products: Kraft pulp, renewable energy
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Irving Pulp & Paper](https://endata.com/companies/87390.md)
- [Canada Infrastructure Bank](https://endata.com/companies/87391.md) (investor)

## Sources

- [newswire.ca](https://www.newswire.ca/fr/news-releases/cib-loans-660-million-towards-saint-john-mill-modernization-863062621.html), 2025-09-26: "The modernization will make the mill energy self-sufficient, eliminate the combustion of heavy fuel oil as an energy source and reduce emissions per tonne of Kraft pulp by 50%."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.