The Prince Rupert Port Authority expects a $150 million loan from the Canada Infrastructure Bank (CIB) will improve flow of exports through the Port of Prince Rupert.

Work has already begun on the first phase of CANXPORT, a logistics hub a short distance from the Fairview Container Terminal.

鈥淭he 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,鈥� a May 23 PRPA press release stated.

According to the release, this is the first time the CIB has invested in a Canadian port.

鈥淭he Canada Infrastructure Bank鈥檚 historic investment in the Port of Prince Rupert鈥檚 CANXPORT project will enable transloading and logistics services on an unprecedented scale and unlock significant competitive advantages for Canadian exporters,鈥� said Shaun Stevenson, PRPA president and CEO. 鈥淭he facility is strategically located within the gateway鈥檚 fully contained intermodal ecosystem, and supports the Prince Rupert Port Authority鈥檚 commitment to realizing a vision of a competitive, resilient, sustainable port.鈥�

The port expects the development of CANXPORT will provide direct and indirect employment and economic benefits to the Prince Rupert community.

The port also announced it expects funding for phase 2 of the project 鈥� which will used to help Ray-Mont Logistics finance construction of a transloading facility and container storage yard 鈥� to be approved later this year. PRPA is projecting operations to begin in the third quarter of 2026.

鈥淗elping to expand Canadian exports by providing financing for the CANXPORT project is a key part of the Canada Infrastructure Bank鈥檚 mandate,鈥� said Ehren Cory, CIB CEO. 鈥淥ur first port investment will increase exports by adding containerized shipments that will elevate the country鈥檚 GDP and competitiveness while also supporting Indigenous communities in Prince Rupert.鈥�

To that end, development of the site was awarded to an Indigenous joint venture that includes Metlakatla First Nation, Lax Kw鈥檃laams Band, Gitxaa艂a Nation and IDL Projects.

Metlakatla and Lax Kw鈥檃laams majority owned Gat Leedm Logistics 鈥� the largest provider of truck drayage services (transportation of containers from ships) within the Port 鈥� will be involved in CANXPORT once it is operational.

The project is financially supported by the PRPA, Ray-Mont Logistics, Canadian National Railway, the Government of Canada and the Government of B.C.