Andrew Furey, Premier of Newfoundland and Labrador, recently announced $15.1M in funding to support the Port of Argentia Cooper Cove Marine Terminal Expansion Project through the Innovation and Business Development Fund (IBDF).
“This comes on top of the $38 million committed by then federal Transport Minister Omar Alghabra last July under the National Trade Corridors Fund,” said Ray Greene, the port’s Manager of Development and Marketing.
The $60 million, multi-year program, being administered by the Department of Industry, Energy and Technology, was established in 2018 to grow and diversify the Province’s oil and gas supply and service capabilities. In response to the growing renewable energy sector, the program guidelines have been updated to include backing initiatives in renewable energy.
Port of Argentia will carry out the project to develop a multi-purpose, marine support and service base in the area of Cooper Cove in Argentia Harbour. It is designed to support the Province’s growing offshore industry as well as innovative renewable energy projects.
In this connection, federal Minister of Rural Economic Development and Minister Responsible for the Atlantic Canada Opportunities Agency, Gudie Hutchings, visited Argentia recently for an update on Port activities and a site tour of the marine terminal and monopile marshalling yard – the first such facility in North America in support of U.S. offshore wind farms. Some five dozen monopiles from Germany were received at Argentia in 2023 from Boskalis heavy transport vessels.
The expansion project includes the construction of approximately 460 m of berthing space for three new berths to accommodate larger vessels, a Roll-on Roll-Off ramp to facilitate the movement of containers and cargo, as well as increasing available dockside space by approximately 100,000 m2. The project will also promote environmentally sustainable practices, such as supporting green energy and low carbon fuels.
The project is anticipated to more than quadruple trade volumes moving through the port over a 30-year horizon.
(Photo from the Port of Argentia)
