Port Hawkesbury, Nova Scotia (February 28, 2005) Nova Scotia Power (NSPI) and Montreal-based Savage CANAC Corporation (Savage), signed a 10-year service agreement for the management of the Point Tupper Marine Terminal. Savage is a leading service provider in the bulk material handling industry.
This agreement allows Nova Scotia Power to serve our customers better by controlling fuel costs while meeting environmental requirements. Were very pleased to be working with a partner that share our values and expertise in safety and the environment, said Rick Janega, NSPIs General Manager of Power Production.
NSPI built the marine terminal in 2004. It allows access to coal supplies around the globe including low sulphur coal from basins including Russia and South Africa. Accessing this coal is one way NSPI will meet new provincial air emission requirements, which includes lower sulphur dioxide, oxides of nitrogen and mercury.
Savage has a 58-year history of providing services to customers in a variety of areas including transloading facilities, ports, bulk terminals and major oil refineries. The Company moves over 60 million tonnes of customer products each year through its transportation and material management operations.
It is anticipated that Savage will receive and handle in excess of one million metric tonnes of solid fuel annually at the marine terminal. Savage will commence operation of its services on April 1, 2005.
We are extremely excited to make this strategic move to serve Nova Scotia Power and become part of the business landscape of the Maritimes, said Allen B. Alexander, President and CEO of Savage. Nova Scotia Power is well-recognized throughout Canada as an efficient and high-quality power producer. We want to continue our legacy of providing best value-no worry services to customers. Our people are enthused about the prospect of working with a quality-based organization like Nova Scotia Power.
Construction of the new marine terminal was recently completed. It has begun receiving coal supplies at the Strait as part of the commissioning process. Many Nova Scotia and Maritime firms were employed during the construction firms, including CBCL Engineering, Van Zutphen Construction, Beaver Marine, Link Electric and B.I.D.
The Point Tupper Marine Terminal, at the Strait of Canso, offers important strategic advantages. It is located directly on the shipping route between North America and Europe. It is also the deepest ice-free harbour in North America, allowing ultra large vessels carrying a variety of bulk cargo products. In addition to supplying coal to the Point Tupper and Trenton Generating Stations, the Terminal will have additional capacity for other products and is able to service various types and sizes of vessels including belted, self-loading and bulker type vessels.
About Savage CANAC Corporation
Savage is a leader in providing creative solutions through its operations in material management and transportation systems and facilities for a wide range of customers and industries. Savage owns, directs or manages over 100 operations, in 29 US States and four Canadian Provinces. Savages CANAC Group is a significant North American and international provider of high-quality planning, infrastructure engineering, training and international services for the rail industry, as well as over 30 rail switching operations in Canada and the US.
About Nova Scotia Power Inc.
Nova Scotia Power Inc. is a wholly-owned subsidiary of Emera (TSX-EMA), a diversified regional energy company. Nova Scotia Power provides more than 97% of electric generation, transmission, and distribution to more than 450,000 customers across Nova Scotia. NSPI is committed to supporting Nova Scotian communities by providing safe, reliable power.