Cargo handling capacity at the Port of Corner Brook will soon improve significantly thanks to a combined investment of $2.7 million from the Government of Canada, the Corner Brook Port Corporation, the Department of Innovation, Trade and Rural Development, and Oceanex Inc.

"The Government of Canada is working with its partners to get things done for the people of western Newfoundland," said Gerald Keddy, Parliamentary Secretary to the Minister of the Atlantic Canada Opportunities Agency (ACOA). "Our investment of $300,000 in this project will enable the Port of Corner Brook to handle more cargo traffic, which sets the stage for additional growth of the port and the region."

"Ports are an essential part of our economy allowing businesses to economically import and export goods," said the Honourable Trevor Taylor, Minister of Innovation, Trade and Rural Development. "These improvements will improve shipping services for local businesses and ensure the port�s long term viability by providing it with increased capacity to move freight and attract shipping companies."

To increase cargo-handling capacity, the Corner Brook Port Corporation will purchase a fixed-pedestal crane and upgrade the surrounding dockside infrastructure. The new crane will provide the flexibility to load and unload larger and heavier containers onto bigger ships. The crane installation and dock upgrades are expected to be completed by May 2008.

"This improvement to the port�s infrastructure will bring widespread economic benefits for the region," said Raymond Pollett, chair of the Corner Brook Port Corporation�s board of directors. "This new equipment will allow the corporation to provide more reliable service for our customers and will be a tremendous boost to our ability to attract more business to the port. It will also mean Newfoundland and Labrador companies, especially those on the west coast of the island, will have a competitive advantage when it comes to transportation costs."

"Oceanex is delighted to participate in this joint initiative with the Port of Corner Brook. The purchase of the new state of the art fixed pedestal Liebherr crane will not only improve our vessel turnaround, but will also meet our long-term handling requirements," said Captain Sid Hynes, executive chairman of Oceanex Inc. "Our participation in this key project is further demonstration of Oceanex's ongoing commitment to investment in ships, terminals and equipment for this province."

Of the total $2.7 million investment, the Corner Brook Port Corporation is contributing $1.7 million. ACOA is providing $300,000 for the project; the provincial Department of Innovation, Trade and Rural Development is contributing $400,000; and Oceanex Inc. will provide $300,000.

ACOA�s funding for this project is provided through its Innovative Communities Fund, which focuses on investments that lead to long-term employment and economic capacity building in rural communities.