Ridley Terminals Inc.

Ridley Terminals Inc.

November 28, 2011 18:00 ET

First Stage of the Terminal Modification Project at Ridley Terminals Nears Completion

PRINCE RUPERT, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2011) - Ridley Terminals Inc. (RTI) is proud to announce that work has begun on their Terminal Modification Project. The project is nearing the end of the first phase of development with the installation of two new dumper barrels, which marks the first realized capacity increase for RTI.

The modifications that are being made throughout the multi-phase project will allow RTI to increase annual shipping capacity from 12 million tonnes to 24 million tonnes. As a result, an additional 20-25 permanent jobs will be available at the terminal, along with many other employment opportunities through contract work.

An environmental assessment has been completed for the project and construction began in late August 2011. The terminal modifications will occur in four stages of development, with an expected completion by early 2015. The cost of the project is approximately $200 million, which is fully funded through RTI and a borrowing authority. Therefore, no direct government assistance is required.

The first phase of development involved site preparation of 44 acres of land, and replacement of two dumper barrels. The second phase will involve site civil works, refurbishing and upgrading of two existing stacker/reclaimers, adding a third stacker/reclaimer, and the installation and upgrade of existing rail lines. The third phase includes the installation of a fourth stacker/reclaimer, as well as adding and extending existing conveyor lines. The fourth phase of development adds a new dumper and a new thaw shed to the Terminal's operation.

"As Senior Minister for British Columbia, I was impressed when I toured Ridley Terminals earlier this year. I am glad to see this project moving forward. Ridley Terminals is not only an important economic generator in Prince Rupert, it also represents a very important piece of Canada's successful Asia Pacific Gateway strategy. Our Government will work with Ridley Terminals management as it continues to meet growing international demands on Canadian resources shipped through the facility and the Prince Rupert Port," said BC Regional Minister James Moore.

"We are all very excited about this entire project. It confirms our place as a world leader in the efficient and reliable movement of coal and other bulk commodities from unit trains onto ships. It also allows us to realize the 24 million tonne annual shipping capacity RTI was originally designed for in the early 1980's, while adding a boost to the local economy," said Bud Smith, Chairman of the Board for Ridley Terminals.

"With record amounts of coal shipped through RTI last year, and this year looking even better, the new dumper barrels will streamline operations and create more jobs to handle the increased amount of coal being shipped to Asia," said Provincial Transportation and Infrastructure Minister Blair Lekstrom. "This is great news for British Columbia and supports 'Canada Starts Here - the BC Jobs Plan' to expand markets globally, and create new jobs at home."

"The expansion of this terminal to handle more coal capacity is good news for B.C. and our booming mining sector," said Provincial Energy and Mines Minister Rich Coleman. "Increased terminal capacity will help to support coal mine developments in and around northern B.C. and bring further investments and jobs to the region."

About Ridley Terminals Inc.

Ridley Terminals Inc. owns and operates a world class bulk handling terminal in Prince Rupert, on the north coast of British Columbia. RTI is serviced by CN, a Class 1 North American railroad. RTI provides an export point for metallurgical and thermal coal, petroleum coke, wood pellets and is capable of handling other bulk commodities. RTI has a reputation of providing professional, reliable, and efficient services to customers, as well as maintaining an excellent safety record. RTI is registered in ISO 9001, 14001, and OHSAS 18001.

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