Ottawa puts Ridley Terminals up for sale

Ottawa announced December 13 that it intends to sell the Crown corporation Ridley Terminals Inc. (RDI), which operates Prince Rupert bulk-handling facility Ridley Terminals.

Ottawa announced December 13 that it intends to sell the Crown corporation Ridley Terminals Inc. (RDI), which operates Prince Rupert bulk-handling facility Ridley Terminals.

In 2011, RTI reported a net operating profit of $34 million. The expanding terminal plans to more than double capacity to 25 million tonnes by 2014, from its current 12 million tones.

The terminal transfers bulk commodities from rail cars onto ships.

“Ridley Terminals once operated at a loss requiring millions in government support, but now is an asset of considerable value,” said Minister of State for Finance Ted Menzies. “Private ownership could allow the terminal to maximize its contribution to economic growth, jobs and new investments.”

The Canada Development Investment Corp. will handle details of the sale and review of bids.

RDI is the last major terminal in Canada to be operated by the federal government.

gkorstrom@biv.com

@GlenKorstrom

comments powered by Disqus

Also Read

More From Law & Politics

In the weeks leading up to the November 15 municipal election, Business in Vancouver will interview the mayoral candidates for Vision, the NPA and COPE

Read Article

Members of the Squamish Nation are demanding that two of their elected band councillors resign from their positions and that the band conduct a more ...

Read Article

Even as Vision Vancouver Mayor Gregor Robertson was promising again that the city would double the money spent on breakfast programs in the Vancouver school ...

Read Article

NPA mayoral candidate Kirk LaPointe announced October 27 that housing affordability is no longer the top issue in the campaign 

Read Article

These corporate writs were filed with the BC Supreme Court registry in Vancouver. Information is derived from notices of civil claim. Civil claims have yet ...

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×