Cool investment
Federal government loan allows for expanded cold storage in Souris
The federal government is investing $500,000 in cold, hard cash to expand a cold storage facility in Souris.
Agriculture and Agri-Food Minister Lawrence MacAulay announced the repayable contribution Friday to the Souris Harbour Authority, which owns and operates Eastern Cold Storage.
The money allows for the purchase of equipment and expansion of the current cold storage facilities by four million pounds bringing its total capacity to between 12 and 13 million pounds.
The expansion is in response to fruit and seafood processors seeking increased affordable cold storage space.
“The Souris Harbour Authority has over a decade of experience supporting local businesses that contribute to the long-term viability of this community,’’ says MacAulay.
“I am pleased to announce this contribution that will provide a valuable service to seafood, and fruit and vegetable processors, especially as we aim to export $75 billion of agri-food products by 2025.”
Denis Thibodeau, president and CEO of the Souris Harbour Authority Inc., lauds the Atlantic Canada Opportunities Agency for providing the loan, which allows needed expansion in a timely fashion.
“We welcome the growth and look forward for more growth in the future,’’ says Thibodeau.
He raved about the quality of workmanship that went into the expanded cold storage that keeps the temperature hovering around a bone-chilling -26 C.
“Our Atlantic growth strategy is a homegrown approach to strengthen our economy, support the middle class and create well-paying jobs for Atlantic Canadians,’’ MacAulay said.
“This investment is a great example of how Atlantic growth strategy is working to help grow communities.’’
The authority was established to own, operate and promote the development of the Port of Souris. Since its inception, the organization has made strategic investments to support local industry.
The increased infrastructure announced Friday is seen as a benefit not only to the authority and local processors, but also to P.E.I.’s growing food industry as producers explore export markets.