Federal Transport Minister Marc Garneau announced May 16 a $9.2 million investment in a project at B.C.'s Ashcroft Terminal, a 320-acre privately owned inland transload and storage terminal with 350 acres of surrounding buffer land.
Ashcroft Terminal is 340 kilometres east of Vancouver and 90 kilometres west of Kamloops and has direct access to major highways and railways. The terminal operates through a unique agreement between Canadian Pacific Railway Ltd. (TSX:CP) and Canadian National Railway Co. (TSX:CNR).
The newly funded project has several elements.
In one area, a new rail link will be built from Ashcroft Terminal to Canadian National Railway’s main rail line. In another area, extra track will be built to allow rail cars to be assembled into longer trains to serve Canadian producers and shippers.
An internal road network will also be built that includes a two-way road under rail line. Other work will include increasing electrical capacity and installing water treatment infrastructure.
“Our government is investing in Canada’s economy by making improvements to 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.”
In 2017, Canada's international merchandise trade totalled $1.1 trillion. The United States continued to be Canada’s top trade partner. Its $415 billion in exports and $288 billion in imports accounted for 63.5% of Canadian trade in 2017.