Abitibi seeks to split off hydro assets

FORT FRANCES—Abitibi-Consolidated is applying to the Ontario Energy Board to split off its hydro-electric generation assets into a subsidiary.
But the company isn’t revealing yet whether this potentially will impact the dam at the mill in Fort Frances.
“We are transferring some our of our hydro assets to another Abitibi-Consolidated affiliate, and this part of our overall plan [is] to look at growing our power business,” Seth Kursman, Abitibi’s vice-president of communications and government affairs, said last week.
“There’s been some notices put in the paper and that’s because over the next few months, we do need to go through the regulatory process in Ontario to receive the appropriate licences and approvals for the energy affiliate,” he added.
“At this point that is the only information I have to release,” said Kursman.
(Fort Frances Times)