The renovation industry saw a boom in the first two years of the pandemic as people spent more time in their homes. That momentum has continued despite heftier costs and rising interest rates.

The transload facility will enhance the transfer of steel products between various vehicles at the Port.

The province's fall economic outlook released Monday forecasts a deficit of $12.9 billion in this fiscal year, followed by $8.1 billion the following year and a deficit of just $700 million in 2024-25.   

Investment in residential building construction dropped by 1.3% to $15.4 billion for the month, while non-residential construction investment rose by 1.6% to $5.4 billion.

The province says the model, which features a centre passing lane that changes direction approximately every two to five kilometres, is safe and more cost effective than twinning an existing road.