I have a tremendous amount of respect for the committee. I want to thank you for the work you've done on the Railway Safety Act. Just to let you know, we certainly want to accelerate this and get it to you as soon as possible after it passes second reading. I'm told that it is a good possibility before Christmas.
I want to update you very quickly on Marine Atlantic, which is a constitutional obligation we have for the ferry system between North Sydney and Newfoundland. That's North Sydney, Nova Scotia.
The ferry connection is very important for the transportation of the people who travel there and for goods. It was in a terrible situation, a terrible state, when we first came into office. We brought on the Atlantic Vision. Actually, it was on life support.
Just to give you an idea of how comprehensive a refit we are actually making, it is significant. Not only are we plugging forward with two new vessels that will increase capacity for Marine Atlantic by 40%, compared to each of the vessels they're replacing--the total is actually a 50% increase in total belly carrying capacity--but there is also almost $90 million for onshore facilities--it's actually just a little over $90 million--at North Sydney, Argentia, and Port aux Basques.
These two vessels, just to give you a quick update, will be replacing the aging Caribou and the Smallwood. The vessels are named. The first vessel will come into being. They're the MV Blue Puttees and the MV Highlanders. These two vessels are on track. The first one is actually expected to be here in December and to be operational in March or before. The second one will be arriving in February and will be put into service long before the spring rush.
Because of the increased capacity for the movement of people and goods as we move into the spring, Marine Atlantic will have a tremendous amount of opportunity to deal with the pressure it has received. The rollout of the onshore facilities are taking place at the present time and will take place over the next three years.
CO2 emissions, improvement of waste water handling, and increased fuel efficiency all will be realized as we bring these two vessels into operation. We're very excited about them. They are state-of-the-art vessels. They are chartered for a five-year period. Those who have seen them are ecstatic about what they're seeing. Marine Atlantic is well overdue for a major, major overhaul, and it is getting that.
This was not only a little over half a billion dollars--$521 million over a five-year period--in Budget 2010, but together with what we've done since we came into office, it is almost $1 billion in real money for Marine Atlantic so that it can deal with its pressures.
Thank you.