Transport committee will study BC Ferries’ receiving $1B loan for Chinese ships

News Snapshot:

OTTAWA — The House of Commons transport committee agreed on Monday to launch a study into the $1 billion loan BC Ferries received from the Canada Infrastructure Bank to finance the purchase of four new electric-diesel ships from a Chinese shipbuilder. BC Ferries announced last month that it had hired China Merchants Industry Weihai Shipyards to build the new ships following a five-year procurement process that did not include a Canadian bid. The Canada Infrastructure Bank contributed $1 billion to the deal and said in a June 26 statement that the new ferries "wouldn't likely be purchased" without this financing....