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

Vancouver neurotherapist had been previously charged with medical insurance fraud.

Read Article

Lax Kw’alaams community members are not saying no to the Pacific NorthWest LNG project, but no to the location. They are not against development

Read Article

Take time to build your network

Read Article

During her first state of the city address, the first-term leader pledged to tackle the two elephants in the room   

Read Article

Detractors should consider the role of the courts and public sector unions

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

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