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CANADIAN INDUSTRY ONLINE - FEBRUARY/MARCH 2014
from the Federal Government’s Gate-
ways and Border Crossings Fund,
which supports transportation infra-
structure projects to develop and op-
erate gateways, trade corridors, and
border crossings. Along with invest-
ment from private industry and the
port, the total cost of the project is $220
million. “The sharing of costs between
the Federal Government, the port au-
thority and the private sector enable us
to reach the market more easily. This
expansion will enable new producers
to add more capacity to their activi-
ties,” Gagnon notes. “The partnership
between all parties is strong and has
made the project construction efficient.
All the players are at the table—gov-
ernment has been really on board with
this project.”
INTERNATIONAL COMPETITIVE
EDGE
In Canada, natural resources
provide the country with incredible
economic advantages, and the port’s
expansion will continue to strengthen
the country’s mining project portfolio.
As many mining projects advance to-
wards production, the port will offer
state-of-the-art facilities that will en-
able producers to compete in global
markets.
The port’s new terminal will
strengthen the Pointe-Noire sector’s
major role in iron ore shipping in Can-
ada. With capacity of 50 million tons
annually, the terminal will become a
focus of strategic development for the
Port and its users. “This is the best
gateway to send our product to the
world. We have many strategic part-
ners in this expansion who will benefit
from it, including Tata Steel. The new
terminal will show the strong base for
international investment and potential
for the future,” Gagnon notes.
The potential of the Labrador
Trough, where Canada’s high qual-
ity iron ore is produced, is immense,
and the Port will ultimately handle
the increased volumes positioning it
to be North America’s largest iron ore
transit hub. “The port will optimize
the footprint of iron ore producers and
increase our ability to compete interna-
tionally,” Gagnon explains.
The expansion is currently on tar-
get: both in terms of budget and time-
line. It is 90 per cent complete and will
be completed this spring, delivered to
users in the summer.
THE PORT OF SEPT-ÎLES
