CIB funds $60.7M Indigenous-led logistics park at Port of Prince Rupert

The Canada Infrastructure Bank (CIB) has finalized a $60.7-million loan to support the development of the Indigenous-led South Kaien Import Logistics Park at the Port of Prince Rupert.

The loan, provided through CIB’s Indigenous Community Infrastructure Initiative, will help the Metlakatla Development Corporation (MDC) and the Prince Rupert Port Authority prepare 56 acres of serviced land near Fairview Terminal and CN Rail.

“Our second investment at the Port of Prince Rupert will help enable British Columbia’s first Indigenous-led logistics facility,” said Ehren Cory, CEO of CIB. “We proudly support the opportunity for the Metlakatla Development Corporation to own a majority stake in the project, which will provide a stable stream of revenues and create jobs for Metlakatla First Nation members and other Indigenous communities in the region.”

More than half of the park has been leased for a logistics and warehousing complex, with the remaining 23 acres available for lease. Site preparation, including heavy civil construction and land removal, is expected to take two years, followed by private sector investment in transloading and warehousing infrastructure.

MDC plans to develop an additional 280 acres in future phases.

“SKILP is step one: MDC plans to develop the remaining 280 acres in subsequent phases to support regional growth and provide economic opportunities for the region and next generation of Metlakatla members,” said Harold Leighton, CEO of Metlakatla Development Corporation.

CIB previously announced a $150-million loan in May for the CANXPORT export logistics hub at the port.

“This investment is vital to anchoring the Port of Prince Rupert as a full-service trade gateway,” said Shaun Stevenson, president and CEO of the Prince Rupert Port Authority.