Government of Canada is encouraged by a potential new partner to acquire Northern Manitoba assets

WINNIPEG, Nov. 16, 2017 /CNW/ - The Government of Canada recognizes the importance of the Hudson Bay Rail Line and remains committed to the people of Churchill and Northern Manitoba.

The Honourable Jim Carr, Minister of Natural Resources, and Member of Parliament for Winnipeg South Centre, today acknowledges another important step toward a positive resolution with respect to the Hudson Bay Rail Line for the people of Churchill and Northern Manitoba.

Fairfax Financial Holdings Inc. (Fairfax) has expressed interest in partnering with Missinippi Rail and One North to acquire the Hudson Bay Rail line, the Port of Churchill and other associated assets.

The Government of Canada, through its chief negotiator the Honourable Wayne Wouters, will continue to work with OmniTRAX and, in exclusivity, with the above parties towards positive solutions for the people and communities of northern Manitoba.

Quotes

"This development has the potential to contribute to an arrangement supported by First Nations and communities in northern Manitoba. This would enable a sustainable business approach that results in a safe and reliable rail line."

Jim Carr
Minister of Natural Resources

"We are optimistic about the prospects of northern gateways. The Churchill rail corridor and the Port of Churchill are important pieces of infrastructure for northern communities and to the economy of Canada. Partnering with First Nations and communities is the right model for this investment. We have deep experience in infrastructure projects and have the necessary operational expertise to run shortline railways in partnership with our investee company AGT Foods. The key is that the plan has to be viable and profitable in the long term as a business."

Paul Rivett
President, Fairfax Financial Holdings Inc.

SOURCE Natural Resources Canada