Marine & Port · MB · #1 of 131 disclosed prospectus tickets

Port of Churchill Plus

Summit deal plate Fast-track list (MPO) Transformative strategy Manitoba

Four-season Arctic gateway: LNG corridor, rail, road, port, icebreaking; US$3.9B preliminary asks

At a glance

Proponent: Manitoba Crown-Indigenous Corp. / Arctic Gateway Group
Capex (as printed): US$57B
Capex (US$, midpoint): US$57B
Stage: Advanced / FEED
Location: 58.77°N, 94.17°W
Summit deal plate: Yes — in the 167-project prospectus pitched Sept 14–15 2026
Fast-track list: Yes — referred to the Major Projects Office
Transformative strategy: Yes — corridor-scale program developed with the province

Project location and corridor alignment.

Range allocation of the US$57B across the MPO's stated scope. Not published anywhere — built from public comparables.

LNG export terminal & liquefaction

US$16B – US$22B

LNG Canada Ph.1 at Kitimat ≈ C$18B (Narwhal comparable); Kinew: C$70–80B for a full LNG-scale build incl. offshore terminal

Energy corridor (gas pipeline to Hudson Bay)

US$14B – US$20B

Western Energy Corridor 1,560 km / NeeStaNan utility corridor to Port Nelson; $10–14M per km for large-diameter northern pipe

Hudson Bay Railway upgrade to Class 1

US$3B – US$5B

~1,000 km Winnipeg–Churchill; 130,000 kg axle-load standard; muskeg / permafrost stabilization

All-weather road (Gillam → Churchill)

US$2.5B – US$4B

~300 km through permafrost; comparable northern all-season roads run C$5–12M/km

Port modernization & critical-minerals terminal

US$2B – US$3.5B

Berths, storage (tripled in 2025), bulk-handling, year-round hardening

Icebreakers, ice-class bulk carriers & marine assets

US$1.5B – US$3B

APTN: icebreakers US$100–410M each; bulk carriers US$60–70M each; fleet of ~6–10 hulls

Power, telecoms & Arctic resupply infrastructure

US$1B – US$2B

Kivalliq hydro-fibre tie-in, port power, community infrastructure

Indigenous equity, engineering, contingency

US$3B – US$5B

MCIC / Arctic Gateway equity carry, owner's costs, 10–15% contingency

When	Who	What	C$M
2018	Federal	Arctic Gateway Group acquisition, rail rehabilitation & operations support	117
Feb 2025	Federal	Hudson Bay Railway & Port of Churchill — 5-year package	175
Feb 2025	Manitoba	Provincial share (first part of C$87.5M)	36.5
Nov 2025	Manitoba	Rail improvements + critical-minerals storage facility (completes C$87.5M)	51
Budget 2025	Federal	HBR & Port operations, 5 years — may formalize / overlap the Feb 2025 package	180

2018Arctic Gateway Group (41 First Nations & northern communities) buys port + railway from OmniTRAX
2019Port reopens after 2016 closure
2024First critical-mineral shipments in 20+ years (zinc concentrate to Europe)
Feb 2025C$262.5M federal–provincial package announced (C$175M fed / C$87.5M MB)
Mar 2025Manitoba Crown-Indigenous Corporation launched to lead POC+
Sep 11 2025Port of Churchill Plus referred to the Major Projects Office as a transformative strategy
Nov 2025Budget 2025 names POC+ a nation-building initiative; MB adds C$51M; Carney–Kinew joint statement
Feb 19 2026Federal market-sounding study launched; POC+ strategy expected spring 2026
Aug 2026Kinew floats C$70–80B LNG-scale vision incl. offshore terminal; year-round shipping studies published
Sep 2026Prospectus lists POC+ at US$57B — the single largest opportunity — with US$3.9B preliminary asks
2030 (target)Ottawa aims for LNG exports from Churchill (Kinew, Globe and Mail)

Build 2028–2035 at 55% construction value-added, then 6% of capex per year operating. Peak US$3.9B/yr · cumulative 2026–40 US$47B.

Straight-line distance from the project point to the nearest vertex of each network layer.

Conawapa Hydro (revived)	Early / concept	US$13B – US$15B
Manitoba Renewable Fuel Production Facility	Advanced / FEED	US$1.4B
Minago Critical Minerals	Feasibility / permitting	US$1.0B
Prairie Silica	Advanced / FEED	US$400M – US$500M
Thompson Nickel Mine	Under construction	US$200M