Government of Canada Announces Funding for Key Improvements to the Port of Saint John

SAINT JOHN, NEW BRUNSWICK--(Marketwired - July 8, 2015) - Infrastructure Canada

Rodney Weston, Member of Parliament for Saint John, on behalf of the Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, was joined today by Peter Gaulton, Chairman of Port Saint John, and Jim Quinn, President and Chief Executive Officer of Port Saint John, to announce $68.3 million in federal funding for a project to modernize Port Saint John's Westside terminals under the National Infrastructure Component of the New Building Canada Fund.

The $205 million project involves improving and consolidating the Rodney and Navy Island terminals to allow the Port to accommodate larger vessels. New operational systems and technology will also be installed to enhance cargo-handling capabilities. The project covers a 60-acre area: 25 acres will be transformed into container storage, 10 acres into a multipurpose yard, and the rest will be used for terminal access roads, stevedoring operations, trans-loading and cargo-consolidation warehouses, and lay-down areas for break-bulk and project cargoes. The main channel at the Port will also be deepened from 8.4 to 10 metres as part of the project.

Port 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, Port Saint John is a major facilitator of trade and part of Canada's Atlantic Gateway to global marine markets. It also harbours cruise ships in the Canada-New England market.

This project will help ensure the port can support growth and meet increasing demand, reinforcing its status as a global shipping link while stimulating economic activity and development at the local, regional and national level. This funding is conditional on the project meeting applicable federal eligibility requirements with respect to the New Building Canada Fund, and the signing of a contribution agreement.

This is the first announcement under the National Infrastructure Component of the New Building Canada Fund in New Brunswick. This component is providing $4 billion in financial support for projects with far-reaching benefits for all Canadians. It supports infrastructure of national significance that has a strong impact on Canada's competitiveness, productivity and economic well-being.

Quick Facts

• The Government of Canada has selected this project for funding consideration of up to $68.3 million under the New Building Canada Fund's National Infrastructure Component.
• Port Saint John will be responsible for securing all the remaining funding necessary to complete the project and for any cost overruns.
• The total cost of the project is estimated to be $205 million.
• The $53-billion New Building Canada Plan provides stable funding for a 10-year period and includes:
  • the Community Improvement Fund, which consists of the Gas Tax Fund and the incremental Goods and Services Tax Rebate for Municipalities and will provide over $32 billion to municipalities for projects such as roads, public transit, recreational facilities, and other community infrastructure.
  • the $14-billion New Building Canada Fund, which consists of:
    • the $4-billion National Infrastructure Component that will support projects of national significance; and
    • the $10-billion Provincial-Territorial Infrastructure Component for projects of national, regional and local significance, with $1 billion going to communities with fewer than 100,000 residents through the Small Communities Fund.
  • An additional $1.25 billion in funding for the Public-Private Partnerships (P3) Canada Fund administered by PPP Canada.
  • Six billion in funding also continues to flow across the country under existing infrastructure programs.

Quotes

"Our Government's support for public infrastructure has never been stronger. As part of its New Building Canada Plan, our Government is investing in priority infrastructure projects that focus on creating jobs and promoting long-term prosperity across Canada. We are pleased to support the Port Saint John's plans to modernize and expand its operations. This work will not only support business growth for the Port, but stimulate broader economic development at the local, regional and national level."

Rodney Weston, Member of Parliament for Saint John, on behalf of the Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs, and Minister of the Economic Development Agency of Canada for the Regions of Quebec

"On behalf of our entire team Port Saint John, we want to thank our Member of Parliament and the Government of Canada for investing in the future of this Port. Today's announcement is a generational investment that our Port has been working towards for the past number of years."

Peter Gaulton, Chair, Port Saint John

"This is a tremendous day for our entire Province and the greater Port community. This Project will be the largest investment in our Port to date and will positively impact all sectors of our business."

Jim Quinn, President and Chief Executive Officer, Port Saint John

Associated links

Learn more about the National Infrastructure Component of the New Building Canada Fund: http://www.infrastructure.gc.ca/plan/nic-vin-prog-eng.html.

Get more information on the New Building Canada Plan: http://www.infrastructure.gc.ca/plan/nbcp-npcc-eng.html.

Read about the Comprehensive Economic and Trade Agreement between Canada and the European Union: http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/ceta-aecg/index.aspx?lang=eng.

Consult Canada's Economic Action Plan to learn more about the Government of Canada's focus on jobs and the economy: http://www.eap.gc.ca.

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