Once completed, the graving dock will mean another 200 high-paying jobs at the shipyard in addition to the 200 already there.
“Those are well-paid jobs that can pay the mortgage. A labourer in our shipyard is earning, including his benefits, just under $90,000 and skilled trades they take home between $110,000 and $130,000 a year,” said Point Hope Marine general manager Riccardo Regosa.
“It’s a very, very significant investment,” said Victoria Mayor Lisa Helps.
“We see lots of $50-million investments in the downtown. We see new buildings going up everywhere and that’s awesome and that investment is totally welcome. This investment is the kind of investment that is going to have a long-term payoff,” Helps said.
Ralmax Group of Companies plans to build the graving dock at its shipyard, at 203-211 Harbour Road in Victoria West.
It will be capable of servicing vessels up to 170 metres (560 feet) in length and six-metre draft.
Regosa said the new dry dock will enable the shipyard to service most Royal Canadian Navy and Canadian Coast Guard vessels as well as most B.C. Ferries vessels.
“I think with our dock we will be well positioned to provide services to all three of them in the future. So I expect those will be part of our client base,” Regosa said.