Thank you, Mr. Speaker. Mr. Speaker, for over 80 years the Northern Transportation Company Limited has provided several essential marine transportation services in the Northwest Territories.
Recognized all across our vast region, NTCL has carried much-needed fuel and freight from the shipyard in Hay River to the furthest regions of the North.
As a result of changing market conditions, business declined over the last decade and NTCL filed for creditor protection in 2016.
Mr. Speaker, reliable, dependable barging service is our lifeline for the communities in my riding. The barges serve other communities along the Mackenzie River and industries that have no other way to bring fuel and other goods into the community.
Failure in the barge service would disrupt the petroleum product supply for the Northwest Territories communities, and the way of life for everyone who lives there. The Government of the Northwest Territories issued a tender to find a new transportation provider, but was unable to identify an alternate contractor.
Mr. Speaker, the GNWT's recent purchase of NTCL assets was based on an evaluation of their market value. It will help ensure that our communities can keep getting the fuel and goods they need and reduce the chance of higher transportation costs, raising the prices of power and other goods in these communities.
Mr. Speaker, the high cost of living is a significant problem throughout the Northwest Territories, and especially for residents of small communities.
Mr. Speaker, NTCL's specialized equipment is essential to marine re-supply along the Mackenzie. People are looking forward to when a contract for the marine re-supply is successfully negotiated. Thank you, Mr. Speaker.