Arctic Gateway Group And Sakku Investments Sign Memorandum Of Understanding To Boost Economic Development In Northern Manitoba And The Kivalliq Regions

(MENAFN- GlobeNewsWire - Nasdaq) Agreement Adds Further Momentum to Canada's Arctic Trade Corridor, with Benefits Envisioned for Kivallirmiut Through Increased shipping and Economic Activity

RANKIN INLET, Nunavut, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Arctic Gateway Group (AGG) and Sakku Investments Corporation (Sakku) are pleased to announce the signing of a Memorandum of Understanding (MOU) aimed at fostering regional economic development, creating new opportunities for growth, while also deepening the historical connection between the Kivalliq Region and Manitoba.

AGG, a proudly Indigenous- and northern-owned company, owns and operates the Port of Churchill, the Hudson Bay Railway, and other critical trade infrastructure in Northern Manitoba. This partnership with Rankin Inlet based Sakku, the Development Corporation of the Kivalliq Inuit Association (KIA), is set to advance joint initiatives that will contribute to the economic growth of both regions, with a focus on transportation, energy and telecommunications, infrastructure development, and workforce development.

"We are excited to partner with Sakku to leverage the Arctic Trade Corridor. This agreement is designed to bring economic growth and cost savings to Kivallirmiut and Northern Manitoba, while also strengthening northern infrastructure to further assert Canadian Arctic sovereignty," said Chris Avery, CEO of AGG.

"The revival of the Port of Churchill and Hudson Bay Railway is important for the Kivalliq region of Nunavut. We all benefit from increased frequency of resupply ships from Churchill, which will reduce costs for businesses and families in the region. The MOU we've signed means more of this work will continue for the benefit of the Kivalliq region. We look forward to working closely with AGG to achieve our shared goals," said David Kakuktinniq, President & CEO of Sakku Investments Corporation.

Recent work undertaken by AGG is proving the Port of Churchill and Hudson Bay Railway are once again a viable and efficient way to ship goods and resources to and from the north, as well as international markets. The successful export of critical minerals from the Port of Churchill in August marks a key milestone in AGG's vision for an efficient, reliable, and prosperous Arctic Trade Corridor. These achievements demonstrate AGG's commitment to revitalizing the Hudson Bay Railway and diversifying the Port of Churchill and to its core principle of Indigenous economic reconciliation. With the support of the Government of Canada and the Province of Manitoba, AGG has replaced hundreds of thousands of rail ties, rebuilt multiple bridges, improved the reliability of operations, and cut rail travel times by 2.5 hours. These investments have been instrumental in securing important contracts and ensuring the stability and reliability of freight and passenger services.

Sakku Investments Corporation has been advancing major projects in the Kivalliq region, including the recent acquisition of the Clarion Hotel in Winnipeg as the new Uquutaq Medical Boarding Home, is building the first modular housing manufacturing plant in Nunavut, now under construction in Arviat, and is leading major clean energy projects, including both transmission and solar generation and storage infrastructure.

Looking ahead, AGG and Sakku will focus on:

• Continued investments in the Port of Churchill and the Hudson Bay Railway to enhance capacity, efficiency and frequency of service to Nunavut.
• Exploring new joint ventures in areas such as renewable energy, telecommunications, and innovative technologies.
• Creating training and employment opportunities for local communities, with a focus on Indigenous and northern populations.
• Prioritizing projects that align with environmental sustainability and contribute to the long-term well-being of the region.

About Sakku Investments Corporation
Sakku Investments Corporation is an Inuit birthright corporation representing the interests of all Inuit in the Kivalliq region of Nunavut. Sakku is the development arm of the Kivalliq Inuit Association (KIA) and its objective is to generate sustainable revenue and strengthen KIA's capacity to enhance the quality of life of Kivallirmiut, fulfilling the promises of the Nunavut Land Claims agreement.

About Arctic Gateway Group
The Arctic Gateway Group is a proudly Indigenous- and community-owned Manitoba company that owns and operates the Port of Churchill, Canada's only Arctic seaport serviced by rail, as well as the Hudson Bay Railway, which operates from The Pas to Churchill.

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