Monday, November 24, 2014

From Federal Government point of view; No change in mandate to sell Ridley Terminals

Ridley Terminals is once again the focus of a new item of note today from the  Globe and Mail, this one which features a look at the status of the process involved in selling the Crown Corporation to private interests.

Yesterday, as part of an overview of developments in the coal industry and the impact that they have had on Ridley Terminals, the Globe observed as to the declining volumes of coal shipments in recent months out of the North Coast Terminal and how those conditions may have played a role in a decision to hold back on further expansion of the terminal.

Today's Globe features a follow up article from Business reporter Brent Jang, who reviews the plan by the Federal Government to sell the Terminal.

Providing some background on the current status of that plan, with a statement from the Canada Development Investment Corporation, which is tasked with seeking a buyer for the North Coast coal terminal.

With CDEV Vice President Zoltan Ambrus delivering the update on those plans for the Globe:

“The sale process has faced numerous internal delays, but we continue to work to prepare for the sale of Ridley Terminals,”

“There have been no changes to the mandate given to CDEV by the government, which is to sell RTI through a competitive process in order to achieve best value from a purchaser who will operate Ridley Terminals on a long-term sustainable basis and with open access,”

Some background on that mandate from the Federal Government can be reviewed from this archived item from the Department of Finance website

More on what the CDEV is all about can be reviewed from their website

As we outlined on the blog yesterday, Mr. Jang provided a fairly expansive overview of the recent events at Ridley Terminals in the article that was published yesterday.

For more background on items related to Ridley Terminals see our archive page here.

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