Nova Scotia government purchasing historic Lunenburg foundry

The Nova Scotia authorities says it has agreed to purchase the historic Lunenburg Foundry, which opened in 1891 however has been idle since November 2021.

The authorities didn’t say how a lot the acquisition will price, saying its new financial growth company — Build Nova Scotia — is in the course of a due diligence section that can finish when the acquisition closes in March.

The Public Works Department issued an announcement saying the foundry will proceed to assist the area’s shipbuilding and upkeep business.

The division says that after the acquisition is finalized, a name might be issued for an operator to enter right into a lease association with the province.

Build Nova Scotia at the moment manages different holdings alongside Lunenburg’s waterfront and has led a number of revitalization initiatives as a part of the Lunenburg Waterfront Master Plan.

Economic Development Minister Susan Corkum-Greek says the foundry stays an essential financial driver in Lunenburg.

“With opportunities in ocean tech and offshore energy, as well as our traditional industries, we want to maximize its benefit to Nova Scotians and set the waterfront up for long-term success.” Corkum-Greek stated.

This report by The Canadian Press was first revealed Dec. 1, 2022.