Amid all the controversy over spending $4.5 billion of taxpayers’ money to buy a pipeline project whose $9.3-billion expansion might never go through, Ottawa managed to come up with some good, if relatively minor, infrastructure news.
Rehab work will begin immediately on an idled railway connecting with a port that together linked Churchill, Manitoba, with the rest of Canada by land and the world by sea. Should all go to plan the private-public partnership would be one of just a few recent success stories in northern infrastructure.
Denver-based owner OmniTRAX shut down Churchill’s deep-water port in 2016, blaming the demise of grain shipping through that route. The following year the company said it couldn’t afford rail repairs after a flood washed out sections of the line.
Now the railway, port and an associated tank farm come under new ownership in an “historic” deal involving the Missinippi Rail Limited Partnership and the Fairfax Financial Holdings & AGT Limited Partnership. “The consortium brings together First Nations and community ownership and support, along with significant private sector leadership and global investment capacity, and further, short line rail operation and shipping experience,” Ottawa enthused.
As stakeholders heaped praise on the federal government, the source for much of the money seemed clear. But not even the purchase price, let alone details on who pays how much, have been disclosed.
For the rest of this article: http://resourceclips.com/2018/09/10/reaching-arctic-mines-by-sea/