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4. The Government of Canada Transfers the Port of Summerside to the Summerside Port Corporation Inc.

The Government of Canada Transfers the Port of Summerside to the Summerside Port Corporation Inc.

No. A001/10
For release - February 19, 2010
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SUMMERSIDE, PEI — Canada’s Transport Minister John Baird today joined Gail Shea, Minister of Fisheries and Oceans and Member of Parliament for Egmont, to announce that ownership of the Port of Summerside is being transferred to the Summerside Port Corporation Inc. This transfer was made possible under Transport Canada’s Port Divestiture Program.

“The Summerside Port Corporation Inc. has demonstrated an interest in managing and developing the area’s waterfront assets,” said Baird. “That’s why today’s announcement is so important. This transfer will put control of the port directly into the hands of local interests to benefit the community and contribute to the economy of Summerside for years to come.”

“I am pleased that the Summerside Port Corporation Inc. will be able to manage this port and ensure it is even more vibrant and successful,” said Minister Shea.  “Summerside'’s port is an important part of our community’s economy, and I look forward to its development in the years to come.”

The property includes 2.3 hectares of upland and a harbour with 90.07 hectares in water lots. There are three independent terminals referred to as the Marine Terminal, which includes a 5,300-square-metre freight shed, Holman’s Wharf and Queen’s Wharf. The property also includes two breakwaters. The transfer agreement includes a contribution of $20.4 million from the Government of Canada, to be used exclusively to cover operational costs and maintain the port’s infrastructure.

The Port of Summerside currently processes commercial goods, primarily fertilizer, root crops and gravel.

“As the new owner and operator of the Port of Summerside, we are very pleased that we will now be in a position to work hard to make this port a valuable asset to our community,” said Arnold Croken, president of the Summerside Port Corporation Inc. “By transferring this port into the hands of local interests, we can ensure that it will be managed with a vision of profitable development and business activity that will serve this community and the needs of its users.”

The Summerside Port Corporation Inc. is a not-for-profit local entity with membership from local businesses and community stakeholders that has been established to promote the development of the port.

Part of the National Marine Policy, Transport Canada’s Port Divestiture Program was established to transfer regional or local port sites to other interests. The department has program authority until March 2012.

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Date modified:

2010-02-22

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