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Canadian government officials announced earlier this week $68.3 million (in Canadian dollars) in federal funding for the Port Saint John modernization project in New Brunswick.The $205 million project involves improving and consolidating the Rodney and Navy Island terminals so that the port can accommodate larger ships. The project covers a 60-acre area.The federal funding will come from the national infrastructure component of the New Building Canada Fund, according to a press release from Port Saint John.The port would be responsible for securing the remaining funding necessary to complete the project. The port handles an average of 28 million tons of cargo annually. The project is designed to ensure the port can support future growth and increasing demand, port officials said.