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.