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

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

Ridley Island

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

West Kelowna firefighters practice swiftwater rescue techniques in the Shuswap River in Cherryville April 20. (Jennifer Smith - Morning Star)
West Kelowna firefighters make a splash in North Okanagan

Swift water rescue training brings team to Cherryville’s Shuswap River

Kimberley case counts not at the point for 18 years and older community vaccination, says Interior Health. (File photo)
Many factors considered for smaller community-wide vaccination: Interior Health

East Kootenay resort town’s COVID-19 situation not at the point of community-wide vaccination, say officials

The new Tourism Revelstoke banners. (Jocelyn Doll - Revelstoke Review)
Jocelyn’s Jottings: Arts and culture make up the soul in every community

Which banners do you prefer? Vote in our web poll

Canadian Prime Minister Justin Trudeau and United States President Joe Biden smile as they say farewell following a virtual joint statement in Ottawa, Tuesday, February 23, 2021. THE CANADIAN PRESS/Adrian Wyld
Trudeau pledges to cut emissions by 40% to 45% by 2030, short of U.S. goal

Trudeau announced target during a virtual climate summit convened by U.S. President Joe Biden

BC Wildfire Service
Small wildfire ignites in the Shuswap

The blaze is about 10 km east of the Squilax Bridge

A screen capture from Chris “Sky” Saccoccia’s Twitch live stream of his rally in Kelowna’s Stuart Park on April 22, 2021. (therealchrisskytv/Twitch.tv)
Anti-mask activist Chris Sky descends on Kelowna, incites violation of COVID-19 health orders

The appearance is part of Chris “Sky” Saccoccia’s ‘Freedom Convoy’ that is currently travelling cross-country

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Gavel (Courtesy photo)
EDITORIAL: High marks for Canada’s democratic process

Accusations of widespread corruption do not hold up

Prime Minister Justin Trudeau will issue an apology for Canada’s treatment of Itaian-Canadians during the Second World War. (CPAC)
COLUMN: Apologizing for an uncomfortable wartime decision

Canada’s government will apologize for its treatment of Italian-Canadians during the Second World War

Vernon RCMP are seeking the public’s help in identifying a man who allegedly pointed a firearm at two people outside a downtown business Saturday, April 10, 2021. (Contributed)
Man who brandished firearm in downtown Vernon sought by police

Video surveillance image shows man pointing what investigators believe to be a handgun April 10

MLA Shirley Bond, right, answers questions during a press conference at Legislature in Victoria, B.C., on February 19, 2019. THE CANADIAN PRESS/Chad Hipolito
Former B.C. gaming minister says she wasn’t told directly about dirty cash flowing to casinos

Shirley Bond said Thursday civil forfeiture, gang violence and gambling addiction were also major concerns in 2011

RauDZ pop-up patio located on Pandosy Street in front of The Okanagan Table. (Contributed: Audrey Surrao)
Kelowna restaurant gets creative to adjust to new health orders

The owners of RauDZ Regional Table open ‘pop-up patio’ to adjust to health order banning indoor dining

Most Read