Friday, December 28, 2012

MLA raises concerns over potential Ridley Terminals Sale

The outgoing MLA for the North Coast, Gary Coons, is raising his concerns once again over the proposed sale of Ridley Terminals Incorporated into private hands.

Coons, who has long been active on the RTI file, once suggested, back in 2005, that a co-op option be considered for the coal handling facility.

 A suggestion that it would seem is very much of the past, when it comes to the future for one of Prince Rupert's largest employers.

As we outlined on the North Coast Review earlier this month, the Conservative government surprised many by their announcement that RTI was up for sale.

The Vancouver Observer reviewed the concerns of the local MLA and provides some more background on the story and highlights some of the potential investors in any privatized RTI.

Among those potential investors, some of the companies that in the past expressed an interest back when the Liberals first proposed the privatization plan.

The Ridley Users Group, which is made up of coal producers and shippers have put together a proposal. Not their first time in a quest for the Prince Rupert terminal, back when the Liberals were shopping RTI they suggested the co-op project that Mr. Coons endorsed.  They are apparently back and hopeful that the second time is the charm.

However, they aren't alone in their interest.

According to the Observer other potential buyers include the Toronto based, Brookfield Asset Management and the US multi national Kinder Morgan.

We imagine, that as valuable an asset as RTI might be, that there will be many more on the short list before any decisions are made.

You can review the full article from the Vancouver Observer here.

Our archive of RTI related items, as always can be found here.


  1. Yeah, they'll sell it. Yeah private companies and very likely some previously public politicians will profit on it. It couldn't go any other way, because if current or previous politicians didn't make a profit on it they would never let it go through. The only guarantee here is that the public who own it and paid for it will take a loss. That is a given.

  2. Sooner or later people will realize that you can't stop a private government from screwing you. They know where their bread is buttered and that is who they serve, they don't serve you.