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REGINA – The Government of Saskatchewan has allocated nearly 1.2 million cubic metres of timber to Saskatchewan-based company One Sky Forest Products to assist opening an oriented strand board (OSB) mill in Prince Albert, Sask.

OSB is a versatile engineered wood panel, which is similar in strength and performance to plywood and is commonly used in home construction for roof, wall and floor sheathing.  

One Sky plans to begin construction on the $400 million plant in 2025 and open it in 2027 and will partner with Indigenous Forestry Investments (IFI), a release said.

“In Saskatchewan’s Growth Plan the Government of Saskatchewan set the target of doubling the size of the forestry sector by 2030 and encouraging increased Indigenous participation. This allocation positions the industry to meet that growth target, working with Indigenous businesses and creating jobs for northern residents, further protecting and promoting Saskatchewan,” Saskatchewan Premier Scott Moe said in a statement.

“Thanks to the allocation of timber from the Saskatchewan government, One Sky is pleased to proceed with our OSB project in Prince Albert. We have work left to do before we can start construction and look forward to continuing to advance this project with our Indigenous partners, the community of Prince Albert, and the Government of Saskatchewan,” One Sky Forest Products chairman Brian Fehr added.

One Sky was formed in 2020 by Montreal Lake Business Ventures, Meadow Lake Tribal Council, Big River First Nation and Tatanka Oyate Holdings, who brought in industry shareholder Peak Renewables Ltd., a B.C. forest products company, the release said.

One Sky’s four Indigenous shareholders formed IFI to provide one unified voice for the Indigenous shareholders and the communities they represent, as well as provide clarity when seeking additional investors, the release said.

“Ownership means we will benefit from the wealth generated, create careers for our people, and involve our businesses in the supply chain,” Indigenous Forestry Investments Board of Directors Chair Gary Daniels said.