Irving Oil is refurbishing its Woodside Marine Terminal in Dartmouth in a process that is expected to take 18 months to complete and cost about $80 million.
“It will provide for more reliable and efficient delivery of petroleum products into the province,” said Mike Thompson director of logistics and distribution for the company.
“This is a significant investment for sure.”
The terminal operated for about 50 years before the company shut it down in 2002.
Eight storage tanks are being refurbished, pipelines and a trucking facility are being added, and the jetty is being improved.
“More competition always means lower prices,” said Dave Collins, vice-president of Wilson Fuel, over the phone in Calgary.
“It’s good for trucking companies, it’s good for fishermen. It’s good for firms likes ourselves, who buy and resell fuel.”
Doug Bethune, a former Nova Scotia Community College auto technology instructor who runs Tune Bethune Automotive Consulting, said opening the terminal again is a good idea.
He adds it will help maintain fuel supplies and prevent a repeat of last summer’s gas shortage.
“I think that was just a blip in the system. We’re quite fortunate in Canada in that fuel is regulated pretty stringently,” said Bethune.