Canada’s transportation department, Transport Canada, said it has sold three ports in Newfoundland to local business groups.
Transport Canada sold the ports of Long Pond, Botwood and Main Brook and said it will invest C$22 million for the continued operation and maintenance of the ports infrastructure.
“Canada’s ports are an integral part of the national transportation system and play an important role in Canada’s international trade. We are pleased to have divested the ports of Long Pond, Botwood and Main Brook to local business groups who are positioned to operate these ports in the best interest of these local communities,” Lisa Raitt, Minister of Transport, said in a statement.
The Canadian government provided C$12.9 million to Long Pond, C8.9 million to the Exploits Valley Port Corp. for the Port of Botwood and C$675,000 for the port of Main Brook.
Since 1996, Transport Canada has sold 496 ports it says has resulted in savings to taxpayers of $470 million.
“Having control of the port locally and overseeing its operation, will enable us to determine best practices to address and serve the interests of the Port of Botwood and neighboring communities, while boosting the local economy,” Jerry Dean, chair of the Exploits Valley Port Corporation, said in a statement.
