Canada has set aside CAD 68.3 million (USD 53.8m) of federal funds to finance a portion of a CAD 205 million project to modernize Port Saint John’s Westside terminals.
Port Saint John will be responsible for securing all the remaining funding necessary to complete the project and for any cost overruns.
The 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 meters 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. It also harbours cruise ships in the Canada–New England market.
The federal 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 CAD 4 billion National Infrastructure Component of the New Building Canada Fund in New Brunswick.