Canada Port Investment Aims to Boost Asia Trade
The Government of Canada has announced it will invest USD $16.73 million in the Port of Prince Rupert’s transportation infrastructure as part of a wider plan to improve the country’s trade with Asia.
The investment project is part of the Asia-Pacific Gateway Initiative, a $76 million government fund that seeks to improve trade with the Asia-Pacific region.
The Asia-Pacific Gateway Initiative itself is part of the Investing in Canada Plan, the government’s strategy for improving the country’s long-term transport and logistics infrastructure.
The funds will be divided among a series of projects that aim to boost trade and cut costs.
These include the Ridley Island Road Rail Utility Corridor Expansion, as well as the Zanardi Bridge and Mainline Expansion, a project that looks to ease the transportation of natural gas from Canada’s west coast.
Find out how the industry is looking to become more environmentally friendly by reading a Port Technology technical paper
In a statement, the government body Transport Canada said the investment project will improve trade flows by increasing traffic and cutting delays at the port.
Furthermore, it will also reduce service times from the Fairview Container Terminal to the Ridley Industrial Site from half an hour to just eight minutes.
This, in turn, is expected to have a significant effect on the port’s greenhouse gas emissions.
Announcing the investment programme Terry Beech MP, Parliamentary Secretary to the Minister of Transport, stated: "Transportation and distribution of goods are a vital part of our local, regional and national economies.
“The investment announced here today will make our transportation system stronger by addressing urgent capacity constraints at the Port of Prince Rupert and fostering long-term prosperity for our community."