A first for Atlantic Canada, demonstrating the importance of regional
cooperation
STEPHENVILLE, Newfoundland and Labrador--(BUSINESS WIRE)--
The governments of Nova Scotia and Newfoundland and Labrador and NSP
Maritime Link Inc., a subsidiary of Emera, today participated in a
ground-breaking ceremony at the Bottom Brook construction site in
Newfoundland and Labrador to recognize the start of construction of the
Maritime Link Project.
Nova Scotia Energy Minister, Andrew Younger, Newfoundland and Labrador’s
Minister of Natural Resources, Derrick Dalley, and President and CEO of
Emera, Chris Huskilson, attended the ground-breaking ceremony, and also
signed an Industrial and Employment Benefits agreement for the Maritime
Link Project. This agreement is based on the terms outlined by the
interprovincial Memorandum of Understanding (MOU) that was signed by the
provinces in late 2011.
“This project creates an important link in our region, bringing clean,
renewable energy to Nova Scotia, as well as local economic
opportunities,” said Minister Younger. “We’re already seeing a number of
Nova Scotia companies actively working on this significant
infrastructure project with even more opportunities coming as the
project ramps up next year.”
With a total estimated cost of $1.577 billion, the Maritime Link Project
is expected to create an average of 300 jobs per year between both
provinces during the construction period. Employment is expected to peak
at 600 in 2016. Approximately 200 people are currently working on the
project between provinces and local companies in Nova Scotia and
Newfoundland and Labrador are working on a number of aspects of the
project.
“Today represents another important milestone for the Lower Churchill
Project,” said Minister Dalley. “This agreement ensures significant
benefits for the people and businesses of our province and the region.
With this agreement now finalized, benefits during the construction
phase of the Maritime Link Project are secured for Newfoundlanders and
Labradorians.”
The agreement includes commitments to the following:
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Equal opportunities for Nova Scotia and Newfoundland and Labrador
businesses and residents.
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A fair, open and transparent procurement and contracting process for
suppliers and contractors in both provinces.
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Funding for training and development positions that align with the
specialized nature of the Maritime Link Project.
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Educational sponsorships to be allocated between universities in Nova
Scotia and Newfoundland and Labrador to support Maritime Link related
technologies.
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Tracking and reporting updates of data related to economic and
employment benefits for both provinces.
“Today's agreement ensures that businesses and residents in both
provinces are treated equally and fairly when it comes to economic
opportunities resulting from the Maritime Link Project,” said Chris
Huskilson, President and CEO of Emera. “To date more than $100 million
has been awarded to local companies in Nova Scotia and Newfoundland and
Labrador and we are just getting started.”
About Emera
Emera Inc. is a geographically diverse energy and services company
headquartered in Halifax, Nova Scotia, with $9.41 billion in assets and
2013 revenues of $2.2 billion. The company invests in electricity
generation, transmission and distribution, as well as gas transmission
and utility energy services. Emera's strategy is focused on the
transformation of the electricity industry to cleaner generation and the
delivery of that clean energy to market. Emera has investments
throughout Northeastern North America, and in four Caribbean countries.
Emera continues to target having 75-80% of its adjusted earnings come
from rate-regulated businesses.
Emera common and preferred shares are listed on the Toronto Stock
Exchange and trade respectively under the symbol EMA, EMA.PR.A,
EMA.PR.C, EMA.PR.E, and EMA.PR.F. Additional Information can be accessed
at www.emera.com
or at www.sedar.com.
About The Maritime Link Project
The Maritime Link is a 500 MW high voltage direct current (HVdc)
transmission project bringing energy from the Lower Churchill project at
Muskrat Falls to Nova Scotia. The Project will include two 170 km subsea
cables across the Cabot Strait, with almost 50 km of overland
transmission in Nova Scotia and close to another 300 km of overland
transmission on the island of Newfoundland. To learn more visit www.emeranl.com.
Emera Newfoundland & Labrador
Jeff Myrick, 709-727-4754
Senior
Manager, Communications
Jeff.myrick@emera.com
Source: Emera Inc.