Canadian Pacific Railway Applauds Investment at Port Saint John
By Chris Wack
Canadian Pacific Railway Ltd. said it approved of the governments of Canada and the province of New Brunswick investing in additional capacity expansion at Port Saint John.
The rail company said it needs the additional capacity at Port Saint John based on its buy of the Central Maine and Quebec Railway, which now connects Atlantic Canada to Montreal, Toronto and the U.S. Midwest with a more seamless route that is 200 miles shorter than other shipping options.
“The additional investment announced today by the federal government and the province of New Brunswick will make a significant impact for Port Saint John and for Canada’s supply chains,” said Keith Creel, CP president and chief executive. “The funding will bring Port Saint John’s capacity up to 800,000 TEUs (20-foot equivalents), almost tripling the Port’s existing capacity.”
CP said it also approved of the Canadian government’s decision to invest in improving the rail infrastructure along the New Brunswick Southern Railway, a critical link between Port Saint John and CP’s North American rail network via the Central Maine and Quebec Railway.
In 2020, the company said that it would invest 90 million Canadian dollars ($70.1 million) over three years to upgrade rail infrastructure along the Central Maine and Quebec Railway, improving safety, efficiency and resiliency.
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