The Canada Infrastructure Bank has loaned the Prince Rupert Port Authority $150 million to develop the first phase of an export logistics hub.

The loan is federally owned CIB’s first investment in a Canadian port.

The hub, known as CANXPORT, will expand capacity and capabilities for rail-to-container transloading of multiple export products at the Port of Prince Rupert, improve Canadian supply chains, and drive trade and economic growth, said CIB in a news release.

“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, the port authority’s 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.”

Located on the northwest B.C. coast, Prince Rupert is North America’s closes deep water port to Asia.

Preparatory work for the project has already begun. The new facility will be located near 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,” said CIB. “The project’s scale, unit train capabilities, and integration into existing container terminal operations will facilitate substantial opportunities to exporters that enhance container supply chains and ways to reach international markets.”

Initially, the hub will be able to handle 400,000 containers, also known as 20-foot-equivalent units, per year.

The CANXPORT projects includes local Indigenous partners. The port authority awarded the development contract to an Indigenous joint-venture that includes the Metlakatla First Nation, Lax Kw’alaams Band, Gitxaała Nation and IDL Projects. The Metlakatla and Lax Kw’alaams are also majority owners of Gat Leedm Logistics, the largest provider of truck drayage services within the port.

Gat Leedm will also support CANXPORT’s operations, which are expected to commence in the third quarter of 2026.

CANXPORT’s financial backers are the Port of Prince Rupert, Ray-Mont Logistics and Canadian National Railway. The federal and B.C. governments are also funding the project infrastructure. The province invested $25 million.

Funding for Phase 2 is expected later in 2024 and will help Ray-Mont finance the construction of the transloading facility and a container storage yard.

Photo: Prince Rupert Port Authority