Article

The Newfoundland government has canceled its MOU with North Atlantic Refining Limited regarding the Bull Arm site, prioritizing defense and shipbuilding opportunities, particularly a floating dry dock. North Atlantic intends to collaborate on alternative leasing options for land closer to the Trans-Canada Highway for its wind-hydrogen project.

The government plans to fund the dry dock's initial phase, with Equinor and BP contributing $200 million as part of the Bay du Nord benefits agreement. The dry dock will be constructed at Bull Arm and is expected to help address maintenance needs for ships, with the potential for cost-sharing with federal and private partners.