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REF NO.: 245

SUBJECT: Next phase of construction for Inco Innovation Centre at Memorial University proceeds
DATE: May 11, 2004

Construction plans for the Inco Innovation Centre, a centre of research and innovation being built at the St. John's campus of Memorial University, are moving ahead. The general contract, including the provision of construction services for the architectural, mechanical and electrical systems as well as building interior fit-up, has been awarded to Marco Services Ltd.

?We are pleased with the result and are presently on target to complete the project within the construction budget,? said Darrell Miles, director of the department of Facilities Management at Memorial University.  Marco Services Limited was awarded the general contract for the tendered amount of $10,905,000.

Approximately 50 per cent of the 8,400 square metres of space will house a wide range of independent research and educational facilities. The remaining 50 per cent of the building will be dedicated to research on mining and processing for the Voisey's Bay deposit ? including a scale model processing plant.

Inco Ltd. has committed $13 million towards the capital cost of the facility and $1 million annually for seven years for operations and maintenance. The federal government has invested over $13 million (including $4.4 million for capital) over a five-year period through the Atlantic Innovation Fund.

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