Industrial activity in Newfoundland and Labrador has never been clearly focused in any one area. But the centre of gravity in recent years has definitely shifted away from the island and more in the direction of Labrador. Increased investments in mining exploration and development and the significant investments made in building the trans-Labrador highway are now to be joined by further development of the hydroelectric potential of the Churchill River.
This morning a $6.2 billion, 35-year deal was announced between Newfoundland and Labrador (Nalcor: http://www.nalcorenergy.com/) and the province of Nova Scotia (Emera: http://www.emera.com/) for the hydroelectric development of a portion of the Lower Churchill megaproject at Muskrat Falls in Labrador. Further details about the deal are forthcoming: http://www.cbc.ca/canada/newfoundland-labrador/story/2010/11/18/nl-muskrat-deal-1118.html.
According to the Nov 18 announcement the current projected delivery date is 2016.
