March 29, 2010 - Newfoundland and Labrador will spend a whopping $1 billion in the coming year building and repairing its infrastructure, says a CBC news report issued today.

“Finance Minister Tom Marshall, who unveiled details of the 2010 budget on Monday at Confederation Building, said the program includes work on six new ferries, five of which will work on the south coast of Newfoundland. The sixth will be based in southern Labrador.

Schools, hospitals, roads and almost every part of the provincial government will receive at least some money from the infrastructure fund, which the governing Progressive Conservatives say is critical for getting through the global recession.

"We need this," Marshall said Monday, describing how much of the province's infrastructure has long needed repair and replacement.

Details released by the government include numerous projects, many of which will take several years. They include replacing the lift bridge in Placentia, extending Team Gushue Highway through the north and west ends of St. John's and improving the Trans-Labrador Highway.

The plan involves $105 million just for repairs and maintenance.

Marshall said the program will provide jobs, but more importantly help the province's economy rebound.

"Infrastructure initiatives inspire investors to spend, encourage entrepreneurs to diversify, and empower employers to hire," he said.

In his speech to the legislature, though, Marshall warned that the government will not have a cavalier attitude towards its spending.

"We expect contractors to sharpen their pencils and provide bids that are reasonable and competitive, and as they do, the tenders will be let, the funding will roll out, the work will proceed," Marshall said.”