Prince Rupert Port Authority’s CANXPORT Project Secures Loan

The CANXPORT project work area. Photo: Prince Rupert Port Authority.

The Prince Rupert Port Authority has secured a $150 million loan from Canada Infrastructure Bank to fund the first phase of its export logistics hub project, CANXPORT, the port authority announced May 23.

The new facility’s site is near Fairview Container Terminal, allowing for more access to capacity to better balance the amount of import and export cargoes and more efficiently containerize bulk commodities such as agricultural, forestry and plastic resin products, the port said.

CANXPORT, which is set to begin operations in the third quarter of 2026, is anticipated to handle an initial annual capacity of 400,000 TEUs, according to the port.

The historic investment in CANXPORT “will enable transloading and logistics services on an unprecedented scale and unlock significant competitive advantages for Canadian exporters,” Prince Rupert Port Authority President and CEO Shaun Stevenson said.

“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,” Stevenson said.

Meanwhile, funding for the project’s second phase is expected to be approved later this year to help Ray-Mont Logistics fund the construction of a transloading facility and container storage yard.

By Karen Robes Meeks