09/11/2012 01:57 EDT | Updated 11/11/2012 05:12 EST

Bluenose II, Nova Scotia's famed schooner, to relaunch later this month

LUNENBURG, N.S. - The Bluenose II will relaunch in Nova Scotia later this month following a two-year restoration of the famed schooner.

The province's Department of Communities, Culture and Heritage says the vessel will be lowered into the water in Lunenburg from a 1,200-tonne marine railway on Sept. 29.

It will be towed beside the Fisheries Museum during an all-day celebration.

The provincial government had hoped to have the sailboat back in the water in the summer, but it required more work.

The government has said the schooner is expected to be ready for public sailing next summer.

The Bluenose II, launched in 1963, is a replica of the original Bluenose, a Grand Banks fishing schooner that won worldwide acclaim for its graceful lines and flat-out speed.

Its restoration cost $15.9 million, with the federal government covering $4.9 million and the province paying the rest.