Canada Infrastructure Bank (CIB) closed on a $60.7 million loan to support the Metlakatla Development Corporation (MDC) and the Prince Rupert Port Authority in the development of an Indigenous-led South Kaien Import Logistics Park in Prince Rupert, British Columbia, which will create long-term economic opportunities in the region.
The funding comes from CIB’s Indigenous Community Infrastructure Initiative (ICII) and will be used for site infrastructure to develop 56 acres of flat, serviced land, heavy civil work that will take place over the next two years. The subsequent phase will include private sector investment in the transloading and warehousing infrastructure.
More than half of the park is leased for logistics and warehousing operations that will strengthen the import transloading and other port capabilities with 100,000 20-foot-equivalent units of capacity to transload marine containers into domestic 53-foot containers, while 23 acres remain available for lease.
The operation will take advantage of proximity to Fairview Terminal, CN Rail, and CANXPORT facility, which also received CIB funding, and will strengthen the flexibility and resilience of Canadian supply chains.
The Port of Prince Rupert is the closest North American west coast port to Asia-Pacific markets and serves as the deepest natural harbour in North America. It is ice-free year-round and can accommodate the largest vessels in the shipping trade, making it a critical gateway for Canadian trade.
