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Earlier this week, the Canadian government announced plans to provide up to $55 million to help fund the construction of a deep-water, multi-user dock at the Port of Sept-Îles, Quebec.

Slated for completion by March 2014, the $220 million project includes a new deep-water dock equipped with two ship loaders and two conveyor lines. The dock is designed to comply with new loading standards in the iron-ore industry.

“The new multi-user dock will have multiple important effects, as it will ensure the start-up of major new iron ore mines in Quebec and Labrador, the expected impacts of which will be key, with nearly 3,000 new jobs and more than $10 billion in investments," said Pierre Gagnon, the port’s president and chief executive officer, and Carol Soucy, the port’s chairman, in a joint statement.

The Sept-Îles facility is a key North American mineral port and remains on track to regain second place among Canadian ports for annual volume, port officials said. The port is directly or indirectly served by CN and the Quebec North Shore and Labrador Railway.