GNB investment in Port of Belledune
Investment in Port of Belledune
24 October 2019
BELLEDUNE (GNB) – The provincial government is investing $7 million to increase capacity at the Port of Belledune.
“Our investment will allow the port to improve terminal operations so greater volumes of bulk cargo can be stored then exported to international markets,” said Premier Blaine Higgs.
Higgs will visit the port facility today to view the construction and to hear the plans for the port to capitalize upon its position in the North American seaport market.
“The port has embraced its role as an economic catalyst for the region and will continue to inform and work with those in the communities around the port in order to best benefit all stakeholders,” said Denis Caron, CEO of the Belledune Port Authority. “We are pleased with the provincial government’s support as the expansion project will benefit our operations.”
The investment is part of a $21-million project that will fill in the water gap between Terminals 3 and 4 to enlarge the berth by 15,000 sq. metres (3.7 acres). This will improve the port’s ability to move cargo between terminals, and to and from ships. The work will also create additional space for commodities on Terminal 4.
“The last time we looked at the port’s economic impact was 2014, and over four years, the jobs supported by the port’s activity grew by more than 1,000,” said Caron. “The port now supports a total of 3,058 direct, induced, and indirect jobs in New Brunswick. With more commodities flowing through the port, these numbers will grow.”
As of 2018, 24 different products were shipped through the port.
Funding will consist of a $5 million grant and a loan of up to $2 million under the Northern New Brunswick Economic Development and Innovation Fund.
Energizing the private sector is one of the government’s priorities. More details on the priorities is available online.