Vancouver benefits from over $200 million in federal funding
(Posted on 27/06/18)
The Canadian federal government has announced $167 million in funding for three projects that will improve the movement of goods to and from the Port of Vancouver and support Canada’s competitive position in international trade.
This, combined with $55.8 million announced last month for four other critical infrastructure projects in the region brings the total funding amount through Transport Canada’s National Trade Corridors Fund to more than $200 million.
The Port of Vancouver is Canada’s largest, and the third largest in North America by tonnes of cargo, facilitating trade between Canada and more than 170 world economies.
“Today, it’s my great pleasure to thank Minister Garneau and his government for the significant investment in critical road and rail projects that will both support Canada’s growing Trans-Pacific trade and protect the livability of local communities,” said Robin Silvester, president and chief executive officer at the Vancouver Fraser Port Authority.
The National Trade Corridors Fund is part of Transport Canada’s Transportation 2030, a strategic vision to support a safe, secure, green, innovative and integrated transportation system that better moves products to markets and grows Canada’s trade.
After extensive study, nearly 40 priority infrastructure projects were identified for the Lower Mainland region and close to half were submitted for funding through the National Trade Corridors Fund. The list was compiled through the collaborative efforts of the port authority, Transport Canada, B.C.’s Ministry of Transportation and Infrastructure, TransLink and the Greater Vancouver Gateway Council, culminating in an infrastructure strategy called Greater Vancouver Gateway 2030 designed to ensure the roads and railways that lead to the Port of Vancouver are ready to manage Canada’s growing trade.
The investment in infrastructure announced by the federal government over the last month means that a key group of these projects will be moved forward and will provide national, provincial, regional, and local benefits. Key among these benefits is the alleviation of transportation bottlenecks, which will greatly increase the efficiency of moving commodities, such as grain, through the Port of Vancouver. These improvements will enable Canadian companies to get their products to market faster, while also reducing congestion on the roads for local communities.
“Together with our local members of Parliament, municipalities, Indigenous groups, and our industry stakeholders, we look forward to continuing to work on these and future projects that prepare our region and the Port of Vancouver for Canada’s expanding trade opportunities,” continued Silvester.
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