Canada Development Investment Corporation is a federal Crown corporation that manages certain commercial and equity holdings of the Government of Canada. Canada Development Investment Corporation’s primary objective is to carry out its activities in the best interests of Canada, operating in a commercial manner. The Corporation reports to Parliament through the Minister of Finance.
Canada Development Investment Corporation has three direct wholly-owned subsidiaries: Canada Hibernia Holding Corporation, Canada Eldor Inc., and Canada TMP Finance Ltd. Canada Hibernia Holding Corporation owns and manages the federal working interest in the existing Hibernia offshore oil development project. Canada Eldor Inc. has no operations, but has responsibility for servicing liabilities, chiefly arising from the 1988 agreement of purchase and sale with Cameco Inc. Canada TMP Finance Ltd. is the parent of Trans Mountain Corporation which controls and manages the Trans Mountain pipeline and related assets. Canada Development Investment Corporation is also currently acting as Canada’s agent in a process to divest Ridley Terminals Incorporated, a Crown corporation which reports to Parliament through the Minister of Transport.
Canada Development Investment Corporation’s Board of Directors is composed of six (6) members plus the Chairperson and President and Chief Executive Officer (if any). The Board is responsible for the stewardship of Canada Development Investment Corporation and oversees its affairs, including ensuring that its assets, liabilities and subsidiaries are managed in a cost effective manner.