Ontario port gets new owner

The Government of Canada has transferred the ownership of Port Stanley's marine facilities in southwestern Ontario to the Municipality of Central Elgin.

"This transfer arrangement will put control of the port directly into the hands of the municipality, to benefit the community and contribute to the local economy of Port Stanley for generations to come," said Minister of Transport, Infrastructure and Communities Honourable Chuck Strahl.

The agreement includes a contribution of $13.6 million from the Government of Canada to be used for covering the port's operational and maintenance costs.

The transfer of ownership was part of Transport Canada’s Port Divestiture Program, which falls under the National Marine Policy, to transfer regional or local port sites to other interests.

"Today, Central Elgin is truly the master of its own destiny," Tom Marks, mayor of the Municipality of Central Elgin added.

"As the new owner and operator of the Port Stanley Harbour, we can make and encourage new investments that strengthen our economy while enhancing the vision for our community."
(Source:www.portworld.com)