Atlantic Gateway concept gains momentum

HALIFAX — A new report indicates there’s loads of potential for Atlantic ports if they focused efforts on growing international container trade.

The study, authored by InterVISTAS Consulting Inc., states that with some funding, the Atlantic Gateway project could turn the region into a major North American trade hub, reports Canadian Press.

But success of the Atlantic Gateway depends on competitive transit times, reliability and cost competitiveness.

The Port of Halifax is in need of an upgrade as it continues losing container traffic to other ports.

Nova Scotia MP Peter MacKay, the federal minister responsible for the Atlantic Canada Opportunities Agency, said the government and the private sector need to join together to make the concept a reality.

The report concluded that infrastructure improvements could create 61,000 new jobs by 2025 and $3.4 billion in new GDP.

Ottawa said it would earmark $2.1 billion in funding over seven years in its March budget.

— from Canadian Press