Marine Atlantic to receive $101 million in funding for new vessel

PORT AUX BASQUES, Nfld. — The Government of Canada will be providing $101 million over five years to enable Marine Atlantic Inc. (MAI) to acquire a charter vessel that will address increasing traffic to and from Newfoundland and Labrador.

“Our government is making a much-needed investment to ensure that we have the capacity to deal with increasing both passenger and freight traffic on this main transportation link. It will have a tremendous positive impact on the local and regional economy,” said Loyola Hearn, Minister of Fisheries and Oceans.

The federal government is working with MAI on detailed requirements and costs, to develop a fleet renewal program that meets the needs and demands of Canadians in the region who rely on ferry transportation.

MAI was already operating at capacity in peak periods during 2007. “Acquiring a charter vessel will enable the corporation to increase passenger/freight capacity, beginning with the 2008 season,” MAI officials said in a release.