Port of Argentia said today it was extremely pleased with the decision by the Provincial Government to release the Cooper Cove Marine Terminal Expansion Project from environmental assessment with conditions. The announcement was made late Friday by Bernard Davis, Minister of Environment and Climate Change.
“We thank Minister Davis and the department for their efforts in advancing this critical project and reaching this decision point so quickly. We believe this strong endorsement of our project by the Government of Newfoundland and Labrador is a significant signal to the Federal Government”, says Port CEO Scott Penney. ”Removing the project from further environmental assessment sends a clear message to industry that the Cooper Cove Marine Terminal Expansion Project is viable, it is meeting its development milestones and is moving forward.”
The government release comes with conditions, including demonstration by the Port that it must uphold all commitments made in its submission to government, the development of a waste management plan specific to the project, and a report by the Port that the conditions have been fulfilled.
This news comes following Premier Andrew Furey’s recent announcement of $15.1 million in support under the Innovation and Business Development Fund (IBDF). The fund was established to grow and diversity Newfoundland’s oil and gas supply and service capabilities and was updated to include renewable energy.
Last year, the Port received Federal Government financial support with a commitment of $38 million under the National Trade Corridor Fund, administered by Transport Canada.
With ever increasing demands at Argentia for berthing space and growing import/export opportunities, the Cooper Cove Marine Terminal Expansion Project will double quayside capacity at the Port adding three berths at water depths of 12.5 metres and the creation of 10 hectares of adjacent laydown space. The new wharf development will feature the latest in port electrification innovations and focus on decarbonisation.
(Photo from Port of Argentia)
