With Port Colborne being the gateway to navigation for the Welland Canal on Lake Erie, the open land that's been left from former industrial sites.... Right from the water of Lake Erie to our north-end border with Welland, we have vast tracts of land. Some of that's under the control of private enterprise and some is with the St. Lawrence Seaway authority. Now HOPA is coming in for a number of acres within the city.
We're looking to enhance that marine industry. I'm glad Jean Aubry-Morin spoke about the big project in Port Colborne. It's approximately $45 million to rehabilitate wharfs 18-1, 18-2 and 18-3, which have been out of service for approximately 10 to 15 years. Private enterprise has partnered with them on that project.
There's Ian's project on the old Algoma Steel plant and getting that back into service with multimodal, as Ian talked about.
Port Colborne is lucky. You know, Vance, as you served as mayor of Port Colborne for quite a long time. I served with you as a councillor. We own our own rail and we own our own port here alongside the St. Lawrence Seaway. We ran the former government elevator for grain that passes from the upper lakes down in through Niagara and then out to the seas to foreign markets.
There's so much land here that could be redeveloped along the canal, but it is infrastructure money, as has been talked about by many witnesses here today. It really needs to be coordinated between all of us—both the private and the public sector—so that we get these lands developed as fast as possible and get them out to market.
We're developing a brand new commercial-industrial subdivision that's right alongside the St. Lawrence Seaway canal. With us are private enterprise, with about 600 acres; the St. Lawrence Seaway, with approximately 100 acres there; and then the City of Port Colborne, with about 80 acres that we're developing.
We all need to work together. We need to get the companies that are coming to Canada. Quite frankly, I think you're going to see more and more. I think the Honda announcement last Thursday in Alliston was really the tip of the iceberg.
It really bodes well for the political climate of North America, both in Canada and the U.S. When you have the issues in Asia, in the Middle East and, quite frankly, some of the issues in Europe right now, you're looking at having companies move here.
Port Colborne is seeing a company called Jungbunzlauer, or JBL, as we call them. They are one of the largest citric acid plants in the world. They're moving a new xanthan gum plant to Port Colborne. It's going to double the size of their plant.
These are just things that are coming along, but we need to be ready. Quite frankly, we needed to be ready yesterday, not tomorrow.