April 24, 2015 – Ottawa – Transport Canada
The Honourable Lisa Raitt, Minister of Transport, today announced a new Government of Canada program to facilitate the transfer of 50 Transport Canada-owned port facilities to local interests.
The Ports Asset Transfer Program (PATP) is a proactive and structured program that includes engagement, sale and divestiture phases. If a port facility does not sell, the program will offer the port facility for divestiture
Key features of the new Program include:
- specific timelines for negotiations and transactions with interested parties during the sales and divestiture phases;
- broader criteria to allow new port operators to expand or improve ports;
- greater flexibility for continued operations or possible alternate uses; and
- the ability of Canada Port Authorities to acquire ports.
Sales and divestitures open up new commercial possibilities that allow port facilities to reach their full potential and maximize their contribution to economic growth, jobs, and investments in local communities.
Zach Segal
Press Secretary
Office of the Honourable Lisa Raitt
Media Relations
Transport Canada, Ottawa
613-993-0055
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