Thursday, October 30th9.5°C
23888
23129

Feds to sell BC coal terminal

Ridley Terminals Inc., a B.C. coal and bulk commodities port that politicians have said is an important piece of Canada's gateway to Asia, is being sold off by the federal government.

The Crown asset in Prince Rupert is considered a world leader in transferring cargo from railcars to large ships for export.

Minister of State for Finance, Ted Menzies, says the decision to sell the terminal was part of the government's review of corporate assets.

The terminal was recording losses in four of five years leading up to 2006 and required millions in support before the government stopped the privatization of the terminal.

Last year, the terminal broke records in revenues, profits and volume, signed 11 new contracts and reduced its debt by 70 per cent.

Menzies says the government will make sure that Canadian taxpayers get maximum value, while ensuring that any buyer continues to operate Ridley on an open-access, commercial basis.

The Canadian Press
How does this story make you feel? (488 total votes)
Castanet MoodMeter
Angry
75.0%
Happy
8.6%
Sad
0.8%
Disappointed
1.8%
Informed
4.3%
Skeptical
9.4%


Read more Business News




Recent Trending




Today's Market
S&P TSX14490.75-36.82
S&P CDNX770.86-10.21
DJIA17171.40197.09
Nasdaq4555.298+6.072
S&P 5001990.50+8.20
CDN Dollar0.8940-0.0001
Gold1201.50-23.40
Oil81.06-0.90
Lumber324.50+2.90
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.115+0.015
Knighthawk0.01-0.005
QHR Technologies Inc1.12-0.03
Cantex0.045-0.015
Anavex Life Sciences0.172-0.008
Metalex Ventures0.0350.00
Russel Metals32.29-0.28
Copper Mountain Mining2.020.00
Colorado Resources0.14+0.005
ReliaBrand Inc0.012-0.004
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.36-0.01

 



23015

FEATURED Property
2025525Lot 4 Scroggins Bay
10085794 bedrooms
$445,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


22632