Government of Nova Scotia gov.ns.ca
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Economic and Rural Development

News Releases

Infrastructure Improvements Set to Begin At Mulgrave Marine Terminal

June 07, 2003

Major infrastructure upgrades at the Strait of Canso Superport
will move ahead next week thanks to financial assistance from the
provincial government. The Strait of Canso Superport Corporation
will begin work on the foundation for a new 35,000 sq. ft.
building planned for the Mulgrave Marine Terminal.

Today, June 7, the provincial government announced the final
piece in its package of financial assistance for the terminal
upgrades. Superport is undertaking the improvements to gain a
competitive advantage in bidding for projects in the offshore oil
and gas industry.

Education Minister Angus MacIsaac, speaking in Mulgrave on behalf
of Economic Development Minister Cecil Clarke, told Superport
officials and others that the province is offering the capital
project a $1.05 million loan, repayable over 10 years.

This funding will supplement other provincial and federal
investments in the Strait of Canso Superport announced in
February, such as the $1.25 million contributed by the Cape
Breton Growth Fund, in which the province is a partner.

"The provincial investment we're announcing today will help the
area diversify into the offshore sector and generate employment,"
Mr. MacIsaac said.

"Here in the Strait of Canso, we intend to build a leading supply
base to the offshore that makes the most of our geographic and
other advantages," said Mr. MacIsaac. "This is exactly the kind
of investment opportunity we said in our economic growth strategy
we would pursue. A major objective of that strategy is to gain
onshore benefits from offshore development."

"The Strait of Canso Superport Corporation is extremely pleased
with the provincial contribution to our project," said Superport
CEO Tim Gilfoy. "It fulfills an important component of the
overall project financing. It also gives a clear indication of
the government's commitment to develop the infrastructure needed
to distribute benefits from offshore oil and gas to areas like
the Strait of Canso."

The total cost of the Mulgrave project is $5 million. Proposed
improvements to the existing terminal include upgrades such as
the new building, water and lighting, a new access road, mud and
fuel storage pads, berms and service trenches, resurfacing of
wharf lay-down areas, and removal of obsolete buildings.

The Superport Corporation expects that in addition to existing
businesses benefiting from the new supply base, new offshore-
service businesses will be attracted to Mulgrave as a place to
set up shop.

Incorporated in 1997, the Strait of Canso Superport Corporation
Limited is a not-for-profit entity responsible for the operation,
development and upgrading of the marine facilities of the
Mulgrave Marine Terminal and the Port Hawkesbury Wharf. It is
also responsible for marketing and promotion of the port
facilities to increase cargo and vessel traffic in the Strait of
Canso.


FOR BROADCAST USE:

A one-million-fifty-thousand-dollar loan from the province

has helped clear the way for construction to begin on major

infrastructure improvements at the Mulgrave Marine Terminal.

The Strait of Canso Superport Corporation will begin work on

the foundation for a new 35-thousand square foot building next

week, as it prepares the terminal to compete for projects in the

offshore.

Superport Corporation says the repayable loan is an

important component of its overall project financing and a clear

indication of the government's commitment to distributing

benefits from the offshore.

The provincial investment is expected to help the area

diversify into the offshore and generate local employment.

The funding announced today (June 7th) is in addition to

provincial support for the project announced in February, through

the federal/provincial Cape Breton Growth Fund.

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For more information, please contact:

Meddy Stanton
Economic Development
902-424-5836
Cell: 902-497-3126
E-mail: stantonm@gov.ns.ca

Tim Gilfoy
Strait of Canso Superport
902-747-2410

djl June 7, 2003 1:15 P.M.