Here how I would get Port Nelson running:
STEP 1: Aggressively attract a 1.5GW data center from USA. There are 7yr electricity backlogs in USA for data centers, pluck from the list. To justify dam construction.
STEP 2: Announce Gilliam Island + Conawapa dam construction. Dams only, no transmission lines. Data centers operate BTM. Excess power fills up Bipole 3 capacity.
STEP 3: Build the Port Nelson road. Dams now justify its build since it's not a "road to nowhere" anymore.
STEP 4: Approve the rail line. Actively market CN/CP even Enbridge and Trans Canada to build the rail line. No taxpayer dollars.
STEP 5: Gov't doesn't need to fund the port. They can do some groundwork, dredging, etc, but Port Nelson economics are strong. Market it as an LNG terminal and more.
STEP 6: Seek out indoor farms to use the waste heat from the data center. Make approvals instant.
That's really all gov needs to do. Make permitting and approvals easy and Port Nelson can be on its way to be the 3rd largest city/economy in Manitoba. I'm not exaggerating either. Port Nelson could add around $10B/yr to Manitoba's GDP. Ballpark.