RICHMOND, Va. (WAVY) – On Tuesday, Gov. Ralph Northam announced a $267-million joint investment between Kamine Development Corporation and Nicollet Industries LLC to establish a paperboard and recycling facility in Chesapeake.
The facility, Celadon Development Corporation, will be located at the Chesapeake Deepwater Terminal site. There, recycled paper and old cardboard will be converted into reusable and exportable fiber sheet to supply paper manufacturers in China.
“Celadon Development Corporation’s state-of-the-art operation will produce in-demand fibers from recycled paper products, benefitting the environment and positioning Chesapeake and the Commonwealth as pioneers of this exciting recycling technology in the U.S.,” said Northam.
Upon completion, Celadon Development Corporation is expected to represent one of the largest exporters in the state with an annual export value of approximately $200 million.
“The revenue from Celadon’s exports and the creation of 210 new jobs, will strengthen the economy of the City of Chesapeake and the region, and we welcome this innovative company to Virginia,” said Secretary of Commerce and Trade Brian Ball.
Officials say that Celadon’s 335,000-square-foot facility will create a closed-loop, waste-free industry that at its peak may use up to 300 rail cars monthly and export 80,000 TEUs through the Port of Virginia.
“Presently the port is investing to ensure it is ready for the future and we look forward to growing in tandem with Celadon and serving as its global gateway for decades to come,” said Stephen A. Edwards, Chief Executive Officer and Executive Director of the Virginia Port Authority.