YARMOUTH, Nova Scotia (AP) – Nova Scotia government officials say they have signed an agreement with a Maine-based company to operate a ferry service between Portland, Maine, and Yarmouth, Nova Scotia.
The final agreement announced on Tuesday with STM Quest Inc. sets the stage for the ferry to begin operating as early as May.
The agreement calls for the provincial government to provide $10.5 million in startup costs and $1.5 million in annual marketing assistance for a total of $21 million over seven years.
Nova Scotia officials say that the agreement is a huge step toward restoring the ferry service and that the company has committed to a May start. But they say there is still much work to do.
The ferry service was scrapped in December 2009 after the subsidies were cut.