Friday, May 30, 2014

Province Advances NovaStar Ferry $5 million

The province is advancing money to Nova Star Cruises to support its first season of operation between Yarmouth and Maine. The ferry operator is trying to secure a $5-million operating line of credit with the State of Maine, however, they are having trouble getting the money. The Nova Scotia government says it will advance the company the money while discussions continue. Tourism Minister Michel Sampson says the ferry is important for tourism and understands the company has encountered some early challenges. The money will be used for operating costs, including fuel and supplies necessary for running the ferry. Roughly $19 million in taxpayer money has been given to the ferry - including the $5 million advance.