Office of the Premier / Regional Development Corporation Investment in strategic infrastructure project at the Port of Saint John
July 30, 2015
SAINT JOHN (GNB) – The provincial government will invest up to $68.3 million over seven years, through the Strategic Infrastructure Initiative, towards the expansion and modernization of the Westside terminals at the Port of Saint John.
“This important strategic infrastructure investment will create jobs and long-term economic growth for the port city, the Fundy region and our entire province,” said Premier Brian Gallant. “The expansion of the Port of Saint John will increase the competitiveness of businesses in the Saint John area and across the province allowing us to increase exports.”
Gallant and Economic Development Minister Rick Doucet made the announcement today with other government and senior officials of the Port of Saint John. Funding is conditional on the federal government and the Port of Saint John each having sources of funding.
The Strategic Infrastructure Initiative project will modernize the Rodney and Navy Island terminals and leverage positive aspects of the current infrastructure to allow the port to accommodate larger vessels. New operational systems and technology will also be installed to enhance cargo-handling capabilities.
Close to 2,000 jobs will be created over the seven-year period of the project with a $152 million boost to the province’s gross domestic product.
“This is an exciting day for the Port of Saint John and our stakeholders, as it demonstrates the importance of the port to the entire province and its role in helping to grow the provincial economy,” said Peter Gaulton, chair of the port. “On behalf of the board of directors and management of the Port of Saint John, I extend thanks to Premier Gallant and to his entire team for providing the final funding required to make this project a reality.”
The Port of Saint John is a year-round, deep water port that handles an average of 28 million tonnes of diverse cargo annually. With global connections to more than 350 ports around the world, it is a major facilitator of trade and part of Canada’s Atlantic Gateway to global marine markets. The port also harbours cruise ships in the Canada–New England market.
Bruce Macfarlane, communications, Regional Development Corporation, 506-444-4583.
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