Feds put Ridley Terminals up for sale

Thursday, the Government of Canada announced their intention to sell Ridley Terminals Inc. in Prince Rupert.

Thursday, the Government of Canada announced their intention to sell Ridley Terminals Inc. in Prince Rupert.

“The Government of Canada regularly reviews its corporate assets to ensure the rationale for continued public ownership is still relevant and tax dollars are being spent wisely,”  Minister of State for Finance, Ted Menzies said in a press release.

“Ridley Terminals once operated at a loss requiring millions in government support, but now is an asset of considerable value.

“Private ownership could allow the terminal to maximize its contribution to economic growth, jobs and new investments.”

The terminal, which sits on 55 ha, is an integral part of the federal government’s Asia-Pacific Gateway and Corridor Initiative designed to ease the movement of goods, services and people to and from  Asian-Pacific markets.

With a current annual shipping capacity of 12 million tonnes, Ridley has plans to expand to 24 million tonnes.

Skeena-Bulkley Valley MP Nathan Cullen (NDP) is not impressed with the announcement, especially as it comes on the heels of the Conservative government’s approval of the sale of Nexen Inc. to China National Offshore Oil Corporation Ltd (CNOOC).

“Last week we saw Stephen Harper and his one-man band sell out Canadians with the disgraceful Nexen deal,” Cullen said in a press release.

“The Conservatives have earned themselves the deep distrust of most Canadians over their handling of the Nexen deal and now they’re peddling another major Canadian asset without due process.

“A decision of this magnitude that so fundamentally affects the northwest and all of Western Canada should first go to the people for consultation and then on to Parliament for honest debate.”