Canada Invests in the Future of the Port of Sept-Îles
Sept-Îles, Quebec, July 20, 2009 – The Honourable Denis Lebel, Minister of State for the Economic Development Agency of Canada for the Regions of Quebec, today announced that the Government of Canada will invest in the Port of Sept-Îles modernization project, which will create regional jobs and have a positive impact on the region's short, medium and long term economic development.
"The Government of Canada is stimulating the Sept-Îles economy and creating jobs in the region by investing over $4.5 million to modernize the Port. Our participation in this major project, which will help fuel economic growth in the Sept-Îles region, is a concrete example of our government's commitment to accelerate infrastructure investments and create jobs over the next two construction seasons," stated Minister Lebel.
This investment will be used to optimize Pier 30 in the Port of Sept-Îles. The work will focus on improvements to port operations, in particular, the expansion of the pier's iron ore shipping capacity. By supporting the mining industry, this work will have a positive effect on medium and long term economic development while creating short term jobs.
"The federal government is giving us the means to adequately respond to the growing needs of our current and future users, an important aspect for the future development of the Port of Sept-Îles. Together with the members of the port community and the region, I thank the federal government for enabling this initiative through the Infrastructure Stimulus Fund, which helps us to respond to the needs of a changing market," added Mr. Carol Soucy, President of the Board of Directors.
The Port of Sept-Îles is a major economic player not only in the region, but also on a much broader scale within the context of North American and international trade. The federal contribution to this project is intended to promote the recovery of the local economy in the short term, however, it also provides significant potential for providing sustainable support for the economy.
The Government of Canada investment will be through the Infrastructure Stimulus Fund. The total cost of the project is just over $9 million.
The new Infrastructure Stimulus Fund, announced in the Government of Canada's Economic Action Plan, amounts to $4 billion. These funds will support projects in which work can begin during the 2009 and 2010 construction seasons.
For additional information on the Government of Canada's Economic Action Plan, consult the Web site at Canada's Economic Action Plan.
For additional information on investments in infrastructure, consult the Web site at Creating Jobs.
Office of the Minister of Transport and Infrastructure Canada
Port of Sept-Îles
The Government of Canada will contribute up to $4,535,000 from its Infrastructure Stimulus Fund to the Sept-Îles Port Authority to optimize Pier 30. This project is included in the modernization plan for the Port of Sept-Îles.
The project is in line with the development of a large number of major mining projects on the North Shore. The specific activities involved in optimizing Pier 30 include improvements to port operations and expanding the pier's iron ore shipping capacity.
Among the project's expected outcomes are the following:
- A 50-metre extension to the pier to more than double the port's capacity to accommodate ships;
- Concrete rehabilitation work to improve and preserve the pier's structural capacity and extend its service life.
Federal funding will be allocated from the Infrastructure Stimulus Fund once a contribution agreement is signed with the Sept-Îles Port Authority. Under the terms of this new $4-billion pan-Canadian fund, the Government of Canada supports projects in which work can begin and be completed during the 2009 and 2010 construction seasons. There is $936 million earmarked from this fund for infrastructure projects in Quebec.
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