AltaGas Ltd. announced that it has reached a positive Final Investment Decision on its Ridley Island Propane Export Terminal, having received approval from federal regulators. AltaGas has executed long-term agreements securing land tenure along with rail and marine infrastructure on Ridley Island, and will proceed with the construction, ownership and operation of the Ridley Export Terminal. The Ridley Export Terminal is expected to be the first propane export facility on Canada's west coast. The site is near Prince Rupert, British Columbia, on a section of land leased by Ridley Terminals Inc. from the Prince Rupert Port Authority. The locational advantage is very short shipping distances to markets in Asia, notably a 10-day shipping time compared to 25-days from the U.S. Gulf Coast. The brownfield site also benefits from excellent railway access and a world class marine jetty with deep water access to the Pacific Ocean. The Ridley Export Terminal will be designed to ship 1.2 million tonnes of propane per year and is estimated to cost approximately $450 million - $500 million. Along with FID, AltaGas will be offering a third party the option to take an equity position of up to 30% in the Ridley Export Terminal. Construction is expected to begin in early 2017 in compliance with the approval, and will proceed under the self-perform model successfully used by AltaGas to build its other projects on time and on budget. The Ridley Export Terminal is expected to be in service by the first quarter of 2019. The Ridley Export Terminal will support long-term economic stability in the region through the diversification of products at Ridley Terminals, and employment opportunities for area residents and First Nations. It is estimated that 200 to 250 construction workers will be hired during the construction phase and 40 to 50 permanent jobs created once the facility is operational. The Ridley Export Terminal will provide enduring community benefits along with employment and contracting opportunities during both construction and operations phases.