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Canada Infrastructure Bank loans Prince Rupert port $150M for logistics hub

Port expects CANXPORT project to be operational by Q3 2026
The CANXPORT job site as of April 2024. (Prince Rupert Port Authority)

The Prince Rupert Port Authority expects a $150 million loan from the Canada Infrastructure Bank (CIB) will improve flow of exports through the Port of Prince Rupert.

Work has already begun on the first phase of CANXPORT, a logistics hub a short distance from the Fairview Container Terminal.

“The innovative facility will enable the efficient containerization of bulk commodities such as agricultural, forestry, and plastic resin products with room to expand and diversify to handle additional cargoes in the future,” a May 23 PRPA press release stated.

According to the release, this is the first time the CIB has invested in a Canadian port.

“The Canada Infrastructure Bank’s historic investment in the Port of Prince Rupert’s CANXPORT project will enable transloading and logistics services on an unprecedented scale and unlock significant competitive advantages for Canadian exporters,” said Shaun Stevenson, PRPA president and CEO. “The facility is strategically located within the gateway’s fully contained intermodal ecosystem, and supports the Prince Rupert Port Authority’s commitment to realizing a vision of a competitive, resilient, sustainable port.”

The port expects the development of CANXPORT will provide direct and indirect employment and economic benefits to the Prince Rupert community.

The port also announced it expects funding for phase 2 of the project — which will used to help Ray-Mont Logistics finance construction of a transloading facility and container storage yard — to be approved later this year. PRPA is projecting operations to begin in the third quarter of 2026.

“Helping to expand Canadian exports by providing financing for the CANXPORT project is a key part of the Canada Infrastructure Bank’s mandate,” said Ehren Cory, CIB CEO. “Our first port investment will increase exports by adding containerized shipments that will elevate the country’s GDP and competitiveness while also supporting Indigenous communities in Prince Rupert.”

To that end, development of the site was awarded to an Indigenous joint venture that includes Metlakatla First Nation, Lax Kw’alaams Band, Gitxaała Nation and IDL Projects.

Metlakatla and Lax Kw’alaams majority owned Gat Leedm Logistics — the largest provider of truck drayage services (transportation of containers from ships) within the Port — will be involved in CANXPORT once it is operational.

The project is financially supported by the PRPA, Ray-Mont Logistics, Canadian National Railway, the Government of Canada and the Government of B.C.

Thom Barker

About the Author: Thom Barker

After graduating with a geology degree from Carleton University and taking a detour through the high tech business, Thom started his journalism career as a fact-checker for a magazine in Ottawa in 2002.
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