New tenant for former OCI plant

One day after writing off $8.25 million dollars in loans to Ocean Choice International, the P.E.I. government is expected to announcedetails on the future of the former Souris fish processing plant.

The former OCI plant closed three years ago with owners saying theycould not turn a profit. It was one of the biggest employers in eastern P.E.I. with300 employees left looking for work. The province has been seekinga wayto replace the jobs lost when the plantclosed.

A news conference is scheduled for late Wednesday morning to detail the future of the plant.

The Centre for Aquaculture Technologies Canada has already said it will be one of the tenants. It held an open house in the community last month pledging to hire 15 people and open by next summer.

The out of court settlement between the province and Ocean Choice ends a court case that saw both sides suing each other.