- The Government of Canada has provided financial contributions to each port for operation and maintenance including: $12.9 million to the Long Pond Harbour Authority Inc., $8.9 million to Exploits Valley Port Corporation for the Port of Botwood and $675,000 to the Main Brook Research and Development Corporation for the Port of Main Brook.
- Transport Canada has divested 496 ports since 1996, which has resulted in savings to Canadian taxpayers of over $470 million.
- Economic Action Plan 2014 allocated $33 million over two years to support the divestiture of regional ports to provincial/territorial governments or local interests and the continued operation and maintenance of federally owned ports.
Transport Canada Divests Three Ports in Newfoundland to Local Business Groups
By: Transport Canada | Sep 14 2014 at 08:50 AM | Ports & Terminals
The Honourable Lisa Raitt, Minister of Transport, today announced the divestiture of the ports of Long Pond, Botwood and Main Brook, NL to local business groups. These divestitures include an investment of over $22 million for the continued operation and maintenance of the ports’ infrastructure, ensuring the long-term sustainability of the port.
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