A major modernization of the Port of Saint John is one step closer to reality after the New Brunswick government announced funding for the projecton Thursday.
Premier Brian Gallant was on-hand to announce the province’s $68.3-million contribution, matching funds already pledged by the port and the federal government.
“This is the final piece of the puzzle,” port CEO Jim Quinn told those gathered for the announcement.
All eyes were on the province to see when or if they would support the modernization project after Ottawa announced earlier this month it would chip in $68.3-million, matching the port’s contribution.
"We have to ensure we do our due diligence whenever we're making any type of investment, certainly one of this magnitude — we're talking about 68.3-million dollars over seven years,” Gallant said.
"We took the time necessary and I again have to commend and thank the team at the Port of Saint John and really all the proponents in the business community in the region for being very helpful and answering our questions and ensuring we had all the information we needed to make an informed decision."
The $205-million expansion is supposed to allow larger vessels to dock in Saint John and create more space for container storage.
One of the major changes will be the dredging of a channel, taking it from 8.4 to 10 metres at low tide, a move that will allow large container and cruise ships to come into port when the tide is low, instead of having to wait outside.
Quinn says now that all the money is in place the port will move into the detailed design of the project.
"From there we'll be moving into the construction phase. Iexpect that will be the last quarter of (2016), early (2017),” Quinn said.
“Then for about the next three, three and half years you're going to see a lot of work happening on the west side of the port."
The port says they expect work to begin in about a year, with the project slated for completion in 2022.
With files from CTV Atlantic’s Ashley Blackford
