Government putting Ridley Terminals Inc. in Prince Rupert, B.C., up for sale

TORONTO — The Canadian government is looking to sell a 90 per cent stake in Ridley Terminals Inc., a federal Crown corporation.

The remaining 10 per cent stake will be transferred to the Lax Kw’alaams Band and the Metlakatla First Nation at the close of the sale.

Ridley Terminals operates on Ridley Island in Prince Rupert, B.C.

It transfers bulk commodities such as coal and petroleum coke from rail cars to ocean-going vessels.

Canada Development Investment Corp. says the sale will be conducted on an open and competitive basis.

It says it’s seeking the best value from a buyer who will operate Ridley Terminals on a long-term sustainable basis and with open access.

The Canadian Press