The Canada Infrastructure Bank (CIB) has reached financial close on a C$150m ($109.2m) loan to the Prince Rupert Port Authority (PRPA) for the first phase of a project to build CANXPORT. The new export logistics hub will expand capacity and capabilities for rail-to-container transloading of multiple export products at the Port of Prince Rupert.
Work has already begun to prepare one of Canada’s busiest ports for the new facility, located a short distance from Fairview Container Terminal. The new facility will enable the 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. The hub’s initial annual capacity will be 400,000 teu.