BPU approves modified contract with American Recycled Fiber.MORRISTOWN Morristown. 1 Town (1990 pop. 16,189), seat of Morris co., N N.J., on the Whippany River; settled c.1710, inc. 1865. Although chiefly residential, it has diverse manufactures, including electronic products, health and beauty aids, auto parts, and , N.J.--(BUSINESS WIRE)--May 8, 1996--Jersey Central Power & Light Company (JCP&L) officials were encouraged by the New Jersey Board of Public Utilities' (BPU BPU benzoylphenyl urea. ) decision today to approve the company's proposed service agreement with American Recycled Fiber of South Amboy L.P. The agreement, modified to incorporate a contribution towards demand side management costs, could result in American Recycled Fiber investing new capital of more than $250 million to construct a waste paper facility on a vacant 31 acre site in South Amboy. The project could also create 700 related construction jobs and 210 permanent jobs in the area. "The Board of Public Utilities decision to approve an agreement between JCP&L and American Recycled Fiber could prove to be of tremendous benefit to the citizens and economies of South Amboy and New Jersey. American Recycled Fiber's decision to locate in South Amboy was contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent the provision of a new tariff tariff, tax on imported and, more rarely, exported goods. It is also called a customs duty. Tariffs may be distinguished from other taxes in that their predominant purpose is not financial but economic—not to increase a nation's revenue but to protect domestic ," said Mike Filippone, director of rates and regulatory administration. "JCP&L is looking forward to receiving and reviewing the BPU's written order so we can move toward implementing the service agreement on a timely basis." JCP&L first sought BPU approval for the new tariff in January, after working with American Recycled Fiber's parent, American Power, for about two years. "We have worked diligently dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d with American Recycled Fiber, the New Jersey Office of the Treasury, the Economic Development Authority, the Mayor of South Amboy and the BPU to help bring this new facility and related jobs to New Jersey. We anxiously await AWAIT, crim. law. Seems to signify what is now understood by lying in wait, or way-laying. the BPU's written order," Filippone noted. CONTACT: JCP&L Ron Morano, 201/644-4297 Donna Rovins, 201/455-8408 |
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