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BRITISH COLUMBIA – Ashcroft Terminal Ltd. and the Vancouver Fraser Port Authority announced that they have signed a letter of intent concerning a long-term arrangement for the transportation of Canadian imports and exports.
The organizations will work together to invest, build and operate rail infrastructure at Ashcroft Terminal to reduce congestion within the Port of Vancouver, support capacity growth and enhance resiliency within the critical Asia-Pacific Gateway trade corridor. This unique partnership will advance the efficient movement of imports and exports in Western Canada and help deliver goods to market faster.
Ashcroft Terminal Ltd. — an inland terminal located approximately 300 kilometres east of Vancouver — will provide infrastructure to supply railcar storage and staging for improved resiliency and cargo fluidity along the Asia-Pacific Gateway Corridor. This will help remove bottlenecks along this major transportation corridor. The parties anticipate the railcar storage program to be operational by fall 2024.
“Creating supply chain resiliency within the Vancouver Gateway is becoming increasingly more important to mitigate against challenging disruptions that can have devastating impacts to trade fluidity and the reliable movement of goods to and from the Port of Vancouver,” said Peter Xotta, vice president, operations and supply chain at the Vancouver Fraser Port Authority. “This partnership presents an exciting opportunity to enhance port-related trade capacity in the region and reduce congestion within the supply chain, which will lead to more reliable access for Canadians to the goods they need to support their families and businesses.”
Once operational, this new railcar storage agreement will create several benefits for Canadians:
- Deliver goods to market faster and with fewer delays.
- Futureproof Western Canada’s supply chain and economy against disruptions, such as floods, wildfires, and labour shortages.
- Reduce the carbon footprint of Canadian supply chains.
“The signed letter of intent is an exciting first step in strengthening Western Canada’s supply chain,” said Chris Shubert, CEO and chief commercial officer at Ashcroft Terminal. “The Asia-Pacific Gateway Corridor connects Canada to the rest of the world, moving critical cargo such as retail goods, bulk products, food, and natural resources. Ashcroft Terminal is the inland terminal equipped and strategically positioned to manage this new rail program and facilitate the fluid movement of Canada’s major economic drivers.”
This agreement is one of the many opportunities the Vancouver Fraser Port Authority is looking at to increase resiliency within the Port of Vancouver and strengthen Canada’s supply chain.
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