NANAIMO – The City of Nanaimo, Snuneymuxw First Nation (SFN) and the Nanaimo Port Authority (as the Parties) have announced the findings of the Technical Advisory Group (TAG) recommendations on the applications received as part of the joint letter of Expression of Interest request to secure an operator for a passenger only ferry service between Nanaimo and Vancouver.
The TAG group has completed its review and recommended to the Parties that Island Ferries Services Ltd. (IFSL), is the preliminary preferred proponent to operate the service. The Parties would like to advise that Ernst & Young will be appointed to perform a financial and technical review directly with IFSL, to determine their ability to provide a ferry service between Nanaimo and Vancouver.
“The City, NPA and SFN have worked through this process to identify a preferred operator,” says Councillor Bill Bestwick. “This decision brings us closer to seeing this desired service beginning between Nanaimo and Vancouver.”
The next step is for the Parties to ratify the recommendation from the Technical Advisory Group. Following that, an independent accounting firm will conduct due diligence on the IFSL business plan and financing.
If the due diligence proves successful, then IFSL will enter into a lease negotiation with the Nanaimo Port Authority to lease marine infrastructure to operate the service in Nanaimo. Additionally, IFSL will be required to engage with SFN.