On Thursday, the company said the cost had risen to 595 million to 615 million Canadian dollars ($463.3 million to $478.8 million).

Cascades President and Chief Executive Officer Mario Plourde said the company is working with contractors to mitigate potential delays in order to meet Bear Island's mid-December 2022 start date.

"It is important to note that the timing of some critical construction milestones may be at risk due to these issues and, as a result, the start-up of paper production may be delayed to the first quarter of 2023," Mr. Plourde said.