The naval facility at Nanisivik, near Arctic Bay, Nunavut, is now expected to be completed by 2018.
The deep water refuelling facility for navy ships was first announced in 2007 by Prime Minister Stephen Harper in his "Use it or lose it" speech about Arctic sovereignty.
The naval facility was originally supposed to be operational by 2015, but the project has been scaled back and delayed.
Rod Watson, project manager for the Nanisivik Naval Facility, says they are confident they will meet the 2018 schedule.
"We have worked very closely with our design consultant and the construction contractor and we all have agreement at this time that 2018 is a very realistic schedule," he said.
"We have completed all the studies that we needed to do, although they took perhaps a season or two longer than we had hoped. But in terms of the construction plan, we are on schedule and we will be able to support the ships in 2018."
Nanisivik is the site of an old lead-zinc mine, which closed in 2002. The naval facility project will refurbish the existing port.
Watson says the company building the port will hold an information session in Arctic Bay at the end of March.