 |
| Three of the biggest projects on the horizon for the Port of Prince Rupert received some Federal funding today |
The Government of Canada is bringing over 153 million dollars to the table as part of its National Trade Corridors Fund, with the money to be put to use in support of three critical trade infrastructure projects through the Port of Prince Rupert.
60.6 million dollars of the money will be put towards the Zanardi Bridge project, the 122 million dollar project is designed to reduce conflicts and increase rail capacity, that will allow for future growth at the Port. Included as part of the funding is the double tracking of the line across the Zanardi Rapids by way of construction of a new bridge.
For CN's President and CEO JJ Ruest, the Federal funding along with their own capital investment is an other sign of the growing gateway that Prince Rupert has become for global trade.
“The Port of Prince Rupert is a recognized and growing North American gateway with Asia, an important conduit for expanding and diversifying trade. CN applauds the level of investment and the commitment from the National Trade Corridors Fund to accelerate and lever CN’s own capital investments towards the Zanardi Bridge and Causeway project.”
Another 49.85 million dollars has been provided towards the installation of required rail infrastructure to service the Ridley Island Explore Logistics Platform project.
That project which has a cost of nearly100 million dollars will focus on the expansion of the existing Road, Rail and Utility Corridor to further enable train access. The rail infrastructure will be the first stage towards eventual development of a large scale transload facility, a large scale break bulk transload facility and an integrated off dock container yard.
The Road Rail Utility Corridor expansion will also create a platform to attract further private sector investment into port terminal operations.
Port President and CEO Shaun Stevenson made note of how the funding is an acknowledgment of the role that the Port plays in the Canadian trade supply chain.
“We are pleased to see over $150 million of federal investment committed to the Prince Rupert Gateway. We see it as indicative of the growing role that the Port of Prince Rupert plays in adding value to Canadian supply chains and growing Canada’s trade with the world. “These investments will enable the development of gateway infrastructure that will support ongoing growth in capacity and resiliency of the gateway.”
The third funding announcement today has 43.3 million dollars heading the way of the Metlakatla Development Corporation, which will be put toward work on the Metlakatla Import Logistics Park project.
That 89 million dollar project will see a 25 hectare site developed on South Kaien Island that will allow for transload and warehouse operations. It's noted that once completed the park will make for a strategic complement to the Export Logistics Platform and will be fully integrated into DP World's Fairview Container Terminal and the Port's intermodal ecosystem.
Harold Leighton the CEO of the Metlakatla Development Corporation noted how the news of the investment into the North Coast will benefit all who live in Coast Tsimshian territory.
“Today’s announcement is a significant step toward realizing our vision of a Logistics Park on Metlakatla lands to improve the efficiency of Fairview Terminal and help enhance the Prince Rupert Gateway. This project will benefit all who live in Coast Tsimshian Territory by creating new jobs related to both the construction and long-term operations of the facility. The Metlakatla Development Corporation is proud to be a part of this and other economic development projects to the benefit of the people who call this area home and to our shareholders, the members of the Metlakatla First Nation.”
The full information release from the Port of Prince Rupert can be reviewed here.
Many of the elements that will move ahead from today's announcement were featured as part of the Port's recent Annual Public meeting presentation. You can learn more about those below:
June 2019 -- Building a better Canada through trade, Building Better communities: Port of Prince Rupert's APM highlights year of achievement, promise of future
June 2019 -- Shaun Stevenson puts focus on Port of Prince Rupert's short and long term future plans
For a look at some of the past items related to the Metlakatla Logistics Park see our archive page here.
For more items of note related to the Port of Prince Rupert see our archive page here.
Cross posted from the North Coast Review.
No comments:
Post a Comment