North Atlantic has emerged as the victor in the competition for control of the Bull Arm fabrication site in Trinity Bay.

North Atlantic has been chosen to lease the sprawling construction site over competitor D.F. Barnes.

They emerged as the top two bidders following a request for proposals earlier this year.

A non-binding MOU now gives North Atlantic the flexibility to lure business to the site, while the provincial government retains overall ownership, and will share in any profits generated from it.

The company is intimately familiar with the area, having operated the Come by Chance refinery for years just across the highway, where it now has a hub that imports more than half of all gas, diesel and jet fuel that enters the province.

They’ve also proposed a massive wind-to-hydrogen facility for that area.

North Atlantic made international news in March after acquiring a refinery in France from ExxonMobil, and recently upped their number of Orange Stores in the Maritimes.

In a statement, company president and CEO Ted Lomond said the plan is to transform the site into a year-round hub to service industries from oil and gas to green energy and defence.

Financial terms of the lease were not disclosed.