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Canadian Minister for Transport Lisa Raitt has announced a government-funded program to transfer 50 of the country's ports to local interests.
The Ports Asset Transfer Program (PATP) is a structured program that includes engagement, sale and divestiture phases, according to the statement. Sales and divestitures are designed to open up new commercial possibilities to allow port facilities to reach their full potential and maximize their contribution to economic growth, jobs, and investments in local communities.
Building on the success of Transport Canada's former Port Divestiture Program (1996-2014), the new Ports Asset Transfer Program (PATP) is a proactive and structured program for the sale or divestiture of 50 Transport Canada-owned port facilities to local interests.
During the engagement phase, Transport Canada will communicate with other federal departments, provincial/territorial governments, municipalities, Aboriginal groups and other interested parties to provide information about the Program. This phase will be followed by the sales phase, where Transport Canada-owned port facilities are first offered to other federal departments, the provinces and territories and municipalities. If there is no interest
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from these organizations, Transport Canada will then seek expressions of interest from other interested parties including Aboriginal communities, non-government organizations, the private sector and individuals. The sales phase will be launched in summer 2015.
If a port facility does not sell, the program will offer the port facility for divestiture.
The aim of the program, according to the government, is to provide broader criteria that will allow new port operators to expand or improve ports, as well as give Canadian Port Authorities the ability to acquire ports.
"Our government understands the importance of these port facilities to the transportation needs and economic sustainability of their local communities," said Raitt. "The PATP offers an excellent opportunity for interested parties to acquire a port facility and to develop it to take advantage of local business, community development and tourism opportunities."
Since 1996, through its previous Port Divestiture Program, the Canadian government says it has divested 499 ports, which has resulted in savings to Canadian taxpayers of over $470 million.
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