Port of Argentia Announces Marine Base Feasibility Study
Port of Argentia announced today that it will carry out a project entitled “Argentia Marine Base Feasibility Study”. The study will include research into commercial opportunities within the offshore and renewable energy industries, as well as other marine-related opportunities in the aquaculture, mining and agriculture sectors.
The Government of Canada is investing $60,000 through the Atlantic Canada Opportunities Agency (ACOA) and the Government of Newfoundland and Labrador is investing $75,000 towards the cost of the study.
“This comprehensive study will lay the foundation for future prosperity at Argentia. It will identify current and emerging marine opportunities that match with Argentia’s strengths, and present the case for supporting dock facilities and other infrastructure that will position the Port as an important service provider to these key industries in the years to come. We wish to thank ACOA and Government of Newfoundland and Labrador for their assistance with this important work,” said Port CEO Scott Penney.
“As our economy responds to the impacts of COVID-19 and we begin our road to recovery, it is important that we consider options to strengthen and diversify all industries. This study will help the Port of Argentia identify commercial opportunities in marine-related sectors to help ensure the local economy rebounds to be strong, resilient and globally competitive,” said Ken McDonald, Member of Parliament for Avalon on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages.
“We are pleased to support this important study that will help position the Port of Argentia for increased service opportunities related to marine transportation, fabrication and industrial storage. Through building our knowledge, we are opening up opportunities for future economic growth and expansion”, states Honourable Andrew Parsons, Minister of Industry, Energy and Technology.
The project gets underway immediately and is targeted for completion in May 2021.
For additional information, please contact the following:
Scott R. Penney, CEO
Port of Argentia
Email: [email protected]
Port of Argentia is a heavy industrial seaport located on the southeastern portion of the Island of Newfoundland, in Placentia Bay. Formerly the site of a U.S. Naval Base, Argentia is being redeveloped with a diverse group of port users and tenants involved in marine transportation, manufacturing, information technology, construction, offshore oil, mining and other sectors.
With a strategic location near the main shipping lanes between North America and Europe, Argentia offers well-maintained infrastructure, a highly skilled local workforce, and significant cost advantages.