by Chris Wack
Canadian Pacific Railway Limited said it has approved the governments of Canada and the province of New Brunswick to invest in additional capacity expansion at Port St.
The rail company said it needed additional capacity at Port St. John based on the purchase of the Central Main and Quebec Railway, which now connects Atlantic Canada to Montreal, Toronto and the US Midwest with a more seamless route than the other 200. Mile is short. shipping options.
“The additional investment announced today by the federal government and the province of New Brunswick will have a significant impact on Port St. John’s and Canada’s supply chains,” said Keith Creel, CP President and Chief Executive Officer. “The funding will bring Port St. John’s capacity to 800,000 TEU (20-foot equivalent), almost tripling the port’s current capacity.”
CP said it has also approved the Government of Canada’s decision to improve rail infrastructure with the New Brunswick Southern Railway, which connects to Port St. John and CP’s North American rail network via the Central Main and Quebec Railway. There is an important link between
In 2020, the company said it would invest 90 million Canadian dollars ($70.1 million) over three years to upgrade rail infrastructure, improve safety, efficiency and resilience along the Central Main and Quebec Railway.
Write to Chris Wack at [email protected]
Credit: www.marketwatch.com /