March 17, 2005
For immediate release
Minister Currie Congratulates East Isle Shipyards on New Tug Contract
Development and Technology
“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
Island Investment Development, Inc (IIDI) will provide a $3.5 million repayable loan for the $19 million project.