Nunatsiavut Construction Inc will be winding down operations over the coming year.

The Nunatsiavut Group of Companies made the announcement this week under the direction of the Labrador Inuit Capital Strategy Trust.

Officials anticipate that it could take close to a year to conclude all current obligations and operations.

The company, which is 100 per cent Inuit owned, says employees have been informed and assistance is being provided by the group’s human resources department.

Nunatsiavut Group of Companies President and CEO Garry Best is thanking management and staff for “building significant infrastructure in Nunatsiavut over many years.”

He says the decision will not affect other business interests or partnerships.

Nunatsiavut President Johannes Lampe confirms that the aforementioned subsidiary is “a strong organization with a broad portfolio.”