GN, West Kitikmeot Resources Corp. sign MOU at Nunavut Trade Show
The estimated cost of the proposed Grays Bay road and port project, which would connect resource-rich western Nunavut to the rest of Canada, has nearly doubled according to its proponent.
Brendan Bell, CEO of West Kitikmeot Resources Corp., provided a new cost figure to Nunatsiaq News after signing a memorandum of understanding to continue support for the project at the Nunavut Trade Show in Iqaluit on Wednesday. “I would estimate that it’s at least a billion-dollar undertaking at this point,” Bell said.
That number is up from a previously estimated $550 million price tag from before the COVID-19 pandemic and recent inflation. As well, plans for the project itself could be changing.
“We are having discussions with the coast guard and with the Navy about an expansion of the capacity of the port, and so you can think about a cost above $1 billion when you start to change the scope,” Bell said.
For the rest of this article: https://nunatsiaq.com/stories/article/grays-bay-road-and-port-could-be-1b-project-proponent-estimates/