Vancouver, B.C.– The Vancouver Port Authority (VPA) and Canadian Pacific Railway (CPR) have signed a cooperation agreement on joint capacity development.
The agreement is a significant step forward to more fully capture expanding Asia-Pacific trade opportunities, say the companies.
Initiatives will include marketing and domestic public policy advocacy programs to enhance competitiveness, operational efficiencies and customer service at the Port of Vancouver. CPR and the VPA have also committed to ensuring that the Port of Vancouver is the most secure port system on the West Coast of the Americas.
“We are committed to leading the development of an integrated transportation system in western Canada that can drive trade and economic development throughout British Columbia and across the country,” said Capt. Gordon Houston, VPA President and CEO.
“It is only by working together with our transportation partners that the Port of Vancouver will capture the significant growth opportunities projected over the next 15 years for the benefit of the province, its workers and Canadas import- and export-dependent industries.”
“We have the opportunity to harness the tremendous growth of North Americas trade with Asia. CPR has already made a $160-million commitment this year to expand our network between the Prairies and the Vancouver Gateway and will have new infrastructure in place by this fall. This agreement further provides a framework to plan future infrastructure based on new sources of growth in Asia-North America trade.”Rob Ritchie, CPR President and CEO, said;
CPRs $160-million expansion program aims to increase the company’s capacity in western Canada by 12 per cent, or more than 400 freight cars per day. The expansion work involves 25 projects, including; 10 projects between Moose Jaw, Sask., and Calgary to extend sidings and lay sections of double track; three projects between Edmonton and Calgary to extend sidings and build a new siding; and 12 projects between Calgary and the Port of Vancouver to extend sidings and lay sections of double track.
Both the VPA and CPR acknowledge that there is a great deal more to do if British Columbia, the Prairie provinces and the rest of Canada are to fully embrace the economic opportunities presented by Asia-Pacific trade.
The two organizations say they will advocate a policy framework in Canada that fosters private sector investment in an integrated transportation system including marine, rail, road and air.
They will also work to encourage and coordinate federal and provincial investment in Canadas aging transportation network in local communities.
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