Hydro plant proposed.Thunder Bay Thunder Bay, city (1991 pop. 113,946), SW Ont., Canada, on Thunder Bay inlet of Lake Superior. The city was created in 1970 by the amalgamation of the twin cities of Fort William and Port Arthur and two adjoining townships. Hydra is 75 to 80 per cent certain an American energy generation company will set up in Thunder Bay, creating new jobs and providing cheaper power to northwestern Ontario Northwestern Ontario is the region within the Canadian province of Ontario which lies north and west of Lake Superior, and west of Hudson Bay and James Bay. It includes most of subarctic Ontario. , officials say. Members of the company could finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... the deal in April. However, the plant still needs environmental approval. The company that plans to build a $1-billion energy generation plant in Thunder Bay has not yet been named, but negotiations with the firm have been taking place for almost a year. The new facility could attract other projects as well, worth another $7 billion in the next five years, officials say. The plant would take two or three years to build; once completed, it would require about 200 workers to operate it. Another 200 paid position could result from spinoff Spinoff A new, independent company created through selling or distributing new shares for an existing part of another company. Notes: Spinoffs may be done through a rights offering. opportunities. |
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