Ashcroft Terminal Ltd. and the Vancouver Fraser Port Authority have signed a letter of intent concerning a long-term arrangement for the transportation of Canadian imports and exports.
Under this agreement, the organisations will work together to invest, build and operate rail infrastructure at Ashcroft Terminal to reduce congestion within the Port of Vancouver, support capacity growth and enhance resiliency within the critical Asia-Pacific Gateway trade corridor.
The partnership aims to advance the efficient movement of imports and exports in Western Canada and help deliver goods to market faster.
Ashcroft Terminal Ltd. – an inland terminal located approximately 300 kilometres east of Vancouver -intends to provide infrastructure to supply railcar storage and staging for improved resiliency and cargo fluidity along the Asia-Pacific Gateway Corridor.
This will reportedly aid in the removal of bottlenecks along this important transportation route. According to the parties, the railcar storage programme is expected to be operational by the autumn of 2024.
Peter Xotta, Vice President, Operations and Supply Chain at the Vancouver Fraser Port Authority, said: “Creating supply chain resiliency within the Vancouver Gateway is becoming increasingly more important to mitigate against challenging disruptions that can have devastating impacts to trade fluidity and the reliable movement of goods to and from the Port of Vancouver.
“This partnership presents an exciting opportunity to enhance port-related trade capacity in the region and reduce congestion within the supply chain, which will lead to more reliable access for Canadians to the goods they need to support their families and businesses.”
Once operational, this new railcar storage arrangement will provide multiple benefits to Canadians, including speedier and less-delayed delivery of commodities to market and a decrease in the carbon footprint of Canadian supply chains.
Chris Shubert, CEO and CCO at Ashcroft Terminal, stated: “The signed letter of intent is an exciting first step in strengthening Western Canada’s supply chain. The Asia-Pacific Gateway Corridor connects Canada to the rest of the world, moving critical cargo such as retail goods, bulk products, food, and natural resources.
“Ashcroft Terminal is the inland terminal equipped and strategically positioned to manage this new rail programme and facilitate the fluid movement of Canada’s major economic drivers.”