Carney Woos Investors With Data Centers, Mines and LNG Deals

By Thomas Seal, Brian Platt, and Christine Dobby

Canada plans to show some of the world’s biggest investors a pitchbook laying out tens of billions of dollars’ worth of projects spanning data centers, advanced manufacturing, liquefied natural gas, ports and dozens of mines.

A document seen by Bloomberg News features 167 projects intended to be shared with some of the world’s biggest institutional investors, including BlackRock Inc. and Saudi Arabia’s Public Investment Fund. Dozens of firms are set to gather at Toronto’s Four Seasons Hotel next week for Prime Minister Mark Carney’s Canada Investment Summit.

The brochure dangles the possibility of minority equity stakes in companies or projects such as Canada’s biggest satellite operator, Telesat Corp., and a multibillion-dollar battery plant in Ontario backed by a Volkswagen AG subsidiary.

An “advanced manufacturing” section includes technology proposals with a defense focus, like turbojets for drones and a space launchpad in Nova Scotia.

In the “digital technology” chapter, a series of large data-center proposals are on offer, particularly in the energy-rich province of Alberta, including a potential C$14.5 billion ($10.5 billion) data-center campus being developed by Norway-headquartered BW Velora.

There’s also a fiber-optic line connecting Canada to Norway, a quantum computer, and a spinout of a government-backed microchip wafer fabrication plant.

Source: Canada Investment Summit Prospectus

Carney’s goal is to accelerate the pace of investment in the Canadian economy, including the development of its vast natural resources. His government has set a target to “catalyze” C$1 trillion of total investment over five years, a figure that also includes huge government outlays on defense and infrastructure.

The summit is designed to give large institutional investors more exposure to and information about Canadian companies and projects that need capital.

More than a third of the brochure is filled with minerals and mining projects, including synthetic graphite production, rare earths, and gold and copper mining. The book also touts “Canada’s first uranium refining and conversion facility in more than 40 years.”

Another large portion is made up of clean energy businesses pursuing technologies such as carbon capture and hydrogen. Power and utilities, including nuclear energy, make up another chapter.

Other projects featured include large-scale port modernizations, such as the central province of Manitoba’s northern seaport of Churchill, a proposed crude oil pipeline for Canada’s west coast and liquefied natural gas export facilities.

The 66-page document details each project’s aim, current status, and shares management contact details. An introduction touts Canada’s advantages and how a federal agency known as Invest in Canada can help investors.

— With assistance from Melissa Shin

(Adds additional context.)

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