The Nova Scotia government is making clear it won’t be putting any more public money into a heavy steel manufacturing facility in northeastern Nova Scotia that has already received $56.3 million of provincial money.
A news release from DSME Trenton said after a board meeting on Thursday that it is trying to secure orders in heavy steel fabrication in the wind, oil and gas and rail sectors.
Get weekly money news
Business Minister Mark Furey said after cabinet that there is no more government money available to invest in the company, a point Premier Stephen McNeil repeated a few minutes later.
A company release also said that Ernst and Young will continue to work on behalf of the firm to help attract third party investment.
- IBC estimates $230M in insured damage claimed from Edmonton storms
- Alberta First Nation sues Ottawa over $5 treaty annuity, argues amount stuck in 1899
- Jobs hang in the balance as Ekati diamond mine in N.W.T. closing early
- WestJet flight attendants hold information pickets as strike vote takes place
Scott Covey, project manager with the firm, said there are currently 31 employees at the company.
The previous NDP government announced in 2010 it had taken a 49 per cent equity stake in the firm, committed $60 million to the manufacturing plant and predicted 500 jobs would be created within three years.
Comments
Want to discuss? Please read our Commenting Policy first.