Call for Expressions of Interest – Cold Storage

Subject: Cold storage facility (fish) in Corner Brook, NL

The Corner Brook Port Corporation (CBPC) invites expressions of interest from prospective cold storage users to support the development of a cold storage facility in Corner Brook, Newfoundland and Labrador. This multi-user facility will be positioned strategically on the dock at the Port of Corner Brook to give direct access to the port’s international container service.

CBPC recognizes the limited access to proper cold storage in the region and the impact it has on the industry. Currently, many processors incur significant additional transportation costs as it is necessary to move fish off the island to be stored in facilities in other provinces. As well, due to the lack of cold storage near the Port of Corner Brook, it has been identified that the fishing industry does not have equal opportunity to benefit from the international container service available at the port. Specifically, processors planning to ship fish to international markets directly from Corner Brook are not able to safely store fish prior to its shipment. A dockside cold storage facility will provide processors with lower costs, quicker time to market and better direct access to international markets promoting economic development for seafood processors, fisherpeople and other businesses in the surrounding areas.

To address this cold storage shortage, CBPC plans to construct a public use cold storage facility for fish products at the Port of Corner Brook. The facility will have an expected holding capacity of 5,000 to 6,000 tonne. The expected budget for this project is $10 million. CBPC has funds to invest in this project however additional funding for cold storage equipment and racking will be required.  While CBPC will be applying to federal programs to assist with this project we are seeking industry partners in invest in the project in exchange for guaranteed storage at a preferred rate.  While project partners will be able to invest to guarantee their access to storage a limited percentage of storage will remain available for public use.

Industry partners interested in contributing to the project are requested to submit a non-binding EOI application.  If you have questions or would like to discuss this opportunity prior to submitting an EOI application, you may contact Jennifer Hartley. Application are due July 10, 2020.

After the EOI applications have been received CBPC will evaluate the demand for cold storage to determine the optimal size facility to construct, given the constraints of the available space, potential investment funds and estimated construction cost.  We are unable to guarantee that we will be able to construct sufficient cold storage to meet the needs of all interested applicants.  The EOI process will be followed by a formal subscription process first offered to EOI applicants.

Download the application: CBPC Expression of Interests – Fish Cold Storage 2020

CONTACT

Jennifer Hartley, M.Ed., MBA

Business Development Manager, Corner Brook Port Corporation

Office: 709-634-6600 Mobile: 709-640-1399

Email applications to: jhartley@cornerbrookport.com