News Releases

IDC and Nunasi Acquire NTCL

Monday, July 15, 1985

The Inuvialuit Development Corporation has reached an agreement in principle with the federal government which will give IDC a 50 percent interest in the Northern Transportation Company Limited (NTCL).

NTCL is the main marine transportation system in the Northwest Territories, and as such in an important factor in ensuring community and industrial resupply can be maintained efficiently. This acquisition fit in well with IDC's philosophy of investing in businesses which help maintain the regional infrastructure and allow local people to participate effectively in resource development activities.

We are pleased that our investment partner in this proposal is Nunasi Corporation, the development arm of the Central and Eastern Arctic Inuit. We hope this will be a major step in establishing strong business links within the northern native business community.

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