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

Federal government to sell B.C. coal terminal

Transport Canada has announced its divesting from federally-owned Ridley Terminals in Prince Rupert

The federal government is looking to sell its coal terminal, 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.

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 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

Port McNeill Cannabis Committee stumbles out of the gate

“I’m worried we could just be all over the map and I need to see a plan.”

Port Alice’s new RCMP officers going through clearance process

The medical process can take several months to complete as there are several steps involved.

UPDATED: East Zeballos placed under evacuation alert as “out of control” wildfire approaches homes

BC Wildfire Service says rolling debris on steep terrain poses danger to firefighters

B.C. declares state of emergency as more than 560 wildfires rage

This is only the fourth state of emergency ever issued during a fire season

Port Hardy Fire Rescue knocks down wildland fire

PHFR members responded to the scene, located the fire, and contained it to the immediate area.

B.C. wildfires 2018: Hazy skies impacting crews in spotting new fires

18,000 people are on an evacuation alert, with 3,000 homes under an evacuation order

Minister optimistic after 2 days of Columbia River Treaty negotiations

Canadian and U.S. officials met in Nelson Wednesday and Thursday to discuss future of the treaty

Man dies in B.C. police cell while awaiting court hearing

An independent investigation is underway after a man died while in Penticton police custody Aug. 16

RCMP appeal for tips, dashcam footage in German tourist shooting west of Calgary

The Durango crashed into the ditch after the shooting near the Goodstoney Rodeo Centre

2 nurses attacked at B.C. psych hospital, union calls for in-unit security

PHSA says that in-unit guards would do more harm than good

Former B.C. optician won’t be jailed for sexually assaulting minor

Kenneth Pilkington sentenced to 24 months’ probation for offence three decades ago

Red Cross now accepting donations for those impacted by B.C. wildfires

The Canadian Red Cross is asking for help now and in the weeks and months ahead.

B.C. program to educate parents reduces ‘shaken baby syndrome’ by 35%

Period of PURPLE Crying was launched nearly a decade ago

B.C. golfer, just 23, scores the rare albatross

Six-million-to-one shot a first for the Terrace club

Most Read