Port of Prince Rupert expands capacity

The Canada Infrastructure Bank (CIB) has reached a financial close on a C$150m loan to the Prince Rupert Port Authority (PRPA) for the first phase of a project to build CANXPORT. This is the CIB’s first investment in a Canadian port.

The new export logistics hub will expand capacity and capabilities for rail-to-container trans-loading of multiple export products at British Columbia’s Port of Prince Rupert, improve Canadian supply chains, and drive trade and economic growth. The project will also provide significant economic and employment benefits to local First Nations and Indigenous-led businesses.

The hub’s initial annual capacity will be 400,000 TEU and 6 million tonnes of cargo in total.

Work has begun on the site, located a short distance from Fairview Container Terminal, which will provide access to capacity to improve the balance of import and export cargoes that will benefit the Port’s broader intermodal business.

The facility will enable the efficient containerisation of bulk commodities such as agricultural, forestry, and plastic resin products with room to expand and diversify to handle additional cargoes in the future.

Local Indigenous partners are involved in the development and operation of CANXPORT. The primary contract site development was awarded by PRPA to an Indigenous joint venture that includes Metlakatla First Nation, Lax Kw’alaams Band, Gitxaała Nation and IDL Projects Inc.

Metlakatla and Lax Kw’alaams are also majority owners of Gat Leedm Logistics, the largest provider of truck drayage services within the Port, that will also support CANXPORT’s operation. Following construction, CANXPORT’s operations are expected to commence in Q3 2026.

Funding for Phase 2, which is expected to be approved later in 2024, will be used to help Ray-Mont Logistics finance the construction of the trans-loading facility and container storage yard.

Capital investment in CANXPORT is provided by PRPA, Ray-Mont Logistics, and Canadian National Railway Co. (CN). The Government of Canada and the Government of BC are also financial contributors to the project infrastructure.