The federal government said an agreement in principle has been reached to restore rail service to Manitoba’s north.

It would also see the Port of Churchill change hands.

In a news release, the government said the “made-in-Canada solution is imminent” and the agreement was reached between Missinippi Rail Partners and Fairfax Financial Holdings and current owner of the rail line and port, Omnitrax.

It also said 30 First Nations, 11 non-First Nation northern Manitoba communities, seven Kivalliq communities in western Nunavut participated in the agreement, along with members of the business community.

The rail line to Churchill was washed out by floods in May of 2017, and members of the isolated community have struggled due to the high cost of air transportation.

The announcement released Wednesday said the government is committed to seeing rail service restored before next winter, and acknowledged the work of its chief negotiator for the project, Hon. Wayne Wouters.

It also said the group of buyers includes AGT Food and Ingredients and OneNorth in addition to Fairfax and Missinippi, which is a consortium of First Nations.