Ridley Terminals Inc. in Prince Rupert, B.C., is up for sale in the fall. (Shannon Lough / The Northern View)

Government plans to sell Ridley Terminals this fall

Transport Canada has announced its divesting from the federally-owned coal terminal in Prince Rupert

The federal government is looking to sell Ridley Terminals Inc. to a private sector owner.

The coal terminal in Prince Rupert is a Crown corporation within Transport Canada’s portfolio and has been performing well in the past year. Total revenues were $178-million in 2017, up 192.5 per cent from the previous years.

As of the end of the June, the terminal had shipped 4.4 million tonnes of product, up 26 per cent from the same time last year. In July, RTI revealed expansion plans to its existing berth with public consultations this fall.

On Aug. 9, the government announced that it has been engaging with six First Nations from the region to discuss the competitive sale process set for the fall.

“The government of Canada recognizes the importance of Ridley Terminals Inc. to the local and regional economies. By consulting early on with Indigenous communities on the future of Ridley, we are reiterating our commitment to advance reconciliation and to renew the relationship between the Crown and Indigenous Peoples in Canada. Ridley Terminals Inc.’s divestiture is expected to support continued high quality terminal operations that are economically sustainable and that maximize value for Canadians,” said Marc Garneau, Minister of Transport, in the press release.

This isn’t the first time Ridley Terminals has been up for sale. The federal government announced its intention to sell the Crown corporation in Dec. 2012.

READ MORE: Report finds failures in governance at Ridley Terminals

The auditor general released a report on RTI in April finding failures in governance that included confusion over the sale of the terminal. The Crown corporation had been up for sale previously but after no buyers officials at the terminal were informed the sale status was on hold. The Department of Transport told the auditor general that RTI was no longer for sale but “did not formally confirm this with the corporation.”

“In our view, until the corporation has full knowledge as to whether it is going to be sold, it cannot set its long-term strategic direction with any certainty,” the report stated.

In response, the Department of Transport said it would “clearly inform” RTI on the status of sale, and any key developments. Three months later, the government made the intention of selling the corporation public.

“The current market conditions are favourable for a potential sale of Ridley Terminals Inc.,” said Annie Joannette, spokesperson for Transport Canada, in an email.

The Canada Development Investment Corporation, a Crown corporation under the Minister of Finance, will manage the sale process.

Since 1983, Ridley Terminals Inc. (RTI) has been mostly involved in the export of coal and petroleum coke. Last year, the corporation included AltaGas Ltd.’s propane export terminal as a move to diversify.

The terminal will be sold ‘as is’ to a private buyer, with all the assets for rail car unloading and loading onto vessels at the marine terminal included. However, the land, which is leased by the Prince Rupert Port Authority to RTI, will not change ownership after the sale.

RELATED: Equality and more jobs in coal terminal’s future



shannon.lough@thenorthernview.com

Like us on Facebook and follow us on Twitter

Just Posted

Tenacious eight Rupert runners in Seattle

Jamie Komadina places 9th overall in her category at the Oiselle Tenacious Ten race on April 21

Lily Swanson celebrates her 90th birthday in Prince Rupert

The Acropolis Manor resident has 22 grandchildren and is a great grandmother to 25 children

Monthly bus passes on Port Edward route go up $24

Adult fare goes up $1 one way to and from Prince Rupert on BC Transit’s Route 60

Housing affordability in Northern B.C. sees slight improvements: report

Higher paying jobs mitigating effects of increased housing prices, Realtor says

Volunteers brave the rain for Earth Day clean-up

Positive Prince Rupert - Civic Pride clean-up held at the Pacific Mariners Memorial Park on Apr. 21

Easter bombings a response to New Zealand attacks, says Sri Lanka minister

The Islamic State group asserted it was responsible for the nine bombings

Man charged in fatal Salmon Arm church shooting to appear in court

Matrix Savage Gathergood charged with first degree murder, aggravated assault

RCMP looking to retrace steps of woman found dead on Kelowna beach

Caitlin Midori Bradley, a 29-year-old dancer at a Kelowna bar, was originally from Surrey

Two back-to-back earthquakes strike off Vancouver Island

The first earthquake happened at 1:27 p.m., the second at 2:44 p.m.

New commemorative loonie marking ‘progress’ for LGBTQ2 people to be unveiled today

But advocates say it mistakenly suggests equality has been achieved largely as a result of government actions

B.C. VIEWS: NDP’s lawyer show is turning into a horror movie

Court actions pile up over pipelines, car insurance, care aides

PHOTOS: Green Party Leader Elizabeth May says ‘I do’ on Earth Day

May and John Kidder got married Monday morning in Victoria

Fire forces 36 people at Vanderhoof care home to evacuate

No one was hurt after the fire at Stuart Nechako Manor

Sri Lanka invokes war-time military powers after nearly 300 killed in Easter bombings

Sri Lanka’s minister of tourism says 39 foreign tourists were killed in the Easter Sunday attacks

Most Read