This story goes back a number of years to when a company from Nova Scotia, related by the way to the leader of the NDP, the L.E. Shaw group of companies, a very reputable company I might add, proposed doing a similar type of business, a quarrying business on the banks of the Saint Croix River in the Bayside Ports area.

Based on the paragraph above can we conclude that "The company proposed a quarrying business on the banks of the Saint Crucifix River in the Bayside Ports area."?