Paper Excellence has finalized its purchase of the former Prince Albert Pulp Mill.
The company intends to reopen the facility to produce dissolving pulp. That is expected to happen by the second quarter of 2012.
Logging is expected to begin by this fall.
About 200 direct jobs will be created as a result of the reopening. The mill closed five years ago and at one time was considered as a possible ethanol plant.
The provincial government has agreed to provide Paper Excellence with adequate fibre supply. It has also committed to a clean biomass power purchase agreement with SaskPower and to maintain the existing environmental liability for the time when the mill operated as a crown corporation before 1986.
The province is also helping to fund the training of new mill operators.
Paper Excellence is investing more than $200 million to convert the mill.
