08:19 AM EDT, 03/23/2026 (MT Newswires) -- ATCO (ACO-X.TO) on Monday said it will provide about $10 million of staged investment for 40% ownership in West Kitikmeot Resources (WKR).

The company said WKR is the sole proponent developing the Grays Bay Road and Port Project (GBRP) a critical infrastructure project consisting of a greenfield deepwater port with access to the Northwest Passage shipping corridor, a 230-kilometre all-season road leading inland, and a 6,000-foot airstrip. GBRP is a multi-use, strategic asset that has recently been referred to the Canadian Federal Government's Major Projects Office.

The GBRP development is planned in multiple phases, with an expected in-service date of 2035 for the full project. The company said that once constructed, the Port of Grays Bay will sit halfway between the ports of Nome, Alaska, and Nuuk, Greenland, on the Northwest Passage.

Shares of the company closed down 2.5% to $65.21 on Friday on the Toronto Stock Exchange.