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The Cape Breton Development Corporation, or DEVCO, was a Government of Canada Crown corporation. ... From March 30, 1968, until November 23, 2001, ...
On July 7, 1967 the Cape Breton Development Corporation, or DEVCO, was established to operate the mines in the interim, while phasing them out throughout the 1970s and, at the same time, develop new economic opportunities for the surrounding communities.
As part of a regional economic development initiative, DEVCO created a tourist railway named the Cape Breton Steam Railway, to operate between Glace Bay and Louisbourg. In 1973, the Sydney and Louisburg Railway Historical Society was created by retired employees of that company to assist with the tourist railway and to preserve the Louisbourg ...
On July 7, 1967, the Cape Breton Development Corporation (DEVCO) was created and on March 30, 1968, all DOSCO mines were expropriated for $12 million by DEVCO. At the same time, the provincial government formed the Sydney Steel Corporation (SYSCO) and took over DOSCO's steel mill, with the aim being to gradually control the shut down of this ...
Pearson announced the formation of the Donald Commission of inquiry into the industry, which would eventually lead to the formation of the federal Crown corporation Cape Breton Development Corporation (or DEVCO) and the provincial Crown corporation Sydney Steel Corporation (SYSCO) which expropriated DOSCO's mines and steel mill in 1968.
From 1968–2001, the Cape Breton Development Corporation's Devco Railway hauled coal from coal mines northeast of Whitney Pier to this shipping pier for international export; the last coal mine in the area known as Industrial Cape Breton closed in November 2001, forcing the power plant to rely on coal imports for the first time.
Thus the Cumberland Railway name continued until 1968 when its property, along with DOSCO's coal mines, was expropriated by the Canadian federal government to form the Cape Breton Development Corporation (DEVCO).
On July 7, 1967 the Cape Breton Development Corporation, or DEVCO, was established to operate the mines in the interim, while phasing them out throughout the 1970s and, at the same time, develop new economic opportunities for the surrounding communities.