Politics and Policy

Ottawa puts Ridley Terminals up for sale


Fri Dec 14, 2012 10:00am PST

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

Tags: Prince Rupert, economic growth, investments, Federal Government, Ridley Terminals Inc.



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