The Port of Hamilton will receive USD $13.4 million in federal funding as the Canadian government continues to modernize its port and maritime infrastructure.
The investment will come from Canada’s National Trade Corridors Fund (NTCF), a government initiative to drive economic growth through infrastructure and logistics.
The capital will be matched by the Port of Hamilton Authority (HPA), in support of the port’s $27 million Westport Modernization Project.
The modernization plan is being run alongside the NTCF to turn Westport, a 115-hectare zone at the west end of the port, into a multi-modal transportation hub.
It will involve upgrades to the port’s marine and rail infrastructure, as well as increasing its storage capacity.
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It is expected to be finished by December 2020, by which point the HPA hopes Westport will be a fully integrated and networked industrial zone.
From @CBCHamilton : “Improvements to the Westport area will optimize the port's current footprint, create new development parcels, and help Canadian companies get their goods to global markets.” #HamOnt #TimeToDiversify https://t.co/6RmiHKA5Db
— Hamilton Port (@HamiltonPort) November 14, 2018
Ian Hamilton, President and CEO, Hamilton Port Authority, said: “This investment recognizes what a critical trade gateway the Great Lakes are, in serving Canada’s most populated area, and the country’s industrial heartland.
“This project is important because the Port of Hamilton is virtually out of room to grow, yet has unmet demand from users who want to invest in trade-oriented business in Ontario.
“Improvements to the Westport area will optimize the port’s current footprint, create new development parcels, and help Canadian companies get their goods to global markets.”
The Honourable Marc Garneau, Minister of Transport, who announced the investment, also commented.
“Our government is investing in Canada’s economy by improving our trade and transportation corridors,” Garneau said.
“We are supporting projects that will efficiently move commercial goods to market and people to their destinations, stimulate economic growth, create quality middle-class jobs, and ensure that Canada’s transportation networks remain competitive and efficient.”