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March 17, 2005
For immediate release

Minister Currie Congratulates East Isle Shipyards on New Tug Contract

Development and Technology

Development and Technology Minister Mike Currie welcomes the news that East Isle Shipyards has received a $19 million contract to construct two more tug boats. The contract is for two Z-drive multifunction, ice-class tugs. They will be built for a Danish company, Stevns. One hundred to 110 people will be employed during the life of the contract. The tugs are expected to take a year and two months to complete and construction will begin immediately.

“East Isle is a real success story,“ said Minister Currie. “This shipyard has been able to find a niche and to continue to work and create jobs. It’s a real tribute to the determination of both the workers and Irving Shipbuilding Inc., and I congratulate them.”

East Isle Shipyard estimates that the two new tugs will create approximately

$3.3 million in total payroll and benefit 50 Island businesses that will supply about $500,000 in goods and services during the construction of the tugs.

East Isle Shipyard was the undisputed first choice of the Danish customer because of the experience and skill of the shipyard’s workforce. Though other countries offer significant subsidies for shipbuilding, government assistance allowed the price of the tugs to be competitive.

The project will continue to build the skill and expertise of electric crane

operators, shipbuilders, carpenters, electricians, enginefitters, labourers,

machinists, maintenance workers, mobile equipment operators, pipefitters and

other positions.

Island Investment Development, Inc (IIDI) will provide a $3.5 million repayable loan for the $19 million project.

Media Contact: Ann Thurlow
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