July 25, 1996
(Tourism, Culture and Recreation)
Marble Mountain privatization enters next phase
Sandra Kelly, Minister of Tourism, Culture and Recreation, and Chuck Furey, Minister of Industry, Trade and Technology, today announced an update to the privatization of the Marble Mountain ski facility.
"Government is entering the next phase of this privatization initiative. Government will first commence consultations with the various interest groups in order to obtain their views on the future operation of the facility," Ms. Kelly said. " Following that step, formal negotiations will take place with the leading proponent to secure a long-term lease agreement of the ski facility. It is government's intention to complete the process and have the facility in operation for the 1996/1997 winter season."
In September of 1995, government announced that it would begin the process of privatizing the Marble Mountain Development Corporation. The services of Ernst & Young Management Consultants were acquired to solicit and evaluate expressions of interest and proposals and make a final recommendation for privatization to the departments of Industry Trade and Technology, and Tourism, Culture and Recreation. "In developing Marble Mountain into a four-season resort, government has completed necessary improvements to the facility and secured certain necessary infrastructure," Mr. Furey said. "Government has made a significant investment in the province's tourism industry through this project. The time has now come, however, for government to reduce its financial commitment to the project and conclude the privatization process."
Ernst & Young Management Consultants received five expressions of interest for the Marble Mountain privatization initiative. Following a rigorous evaluation process including presentations of detailed proposals, Ernst & Young made its final recommendation to the appropriate government departments. Final agreements are expected to be completed prior to the commencement of this year's ski season. The leading proponent's name will be publicly released following the conclusion of this negotiation phase.
"In addition to being a tourism generator, Marble Mountain provides a quality recreational experience for all residents of Newfoundland and Labrador," Ms. Kelly said. "Under private ownership, I am confident that Marble Mountain will continue to be a high quality ski facility with improved growth potential."
Contact: Laura Cochrane, Public Relations Director, Department of Tourism, Culture and Recreation, (709) 729-0928 fax: (709) 729-0870;
John Doody, Public Relations Director, Department of Industry, Trade and Technology (709) 729-0050 fax: (709) 729-2091.
| 1996 07 25 | 3:15 p.m. |
