The funding will allow Ashcroft Terminal, which is being headed by Robert Landucci of Vancouver’s Crescent View Investment Ltd., to expand its industrial-zoned land into a “logistics-focused, rail-based transload facility” at the east end of Fraser Canyon. The proposed inland terminal outside of the South-Central Interior community has been on the books for years. (See “Ashcroft alternative offers Interior relief for the West Coast’s growing container crunch” – issue 892; November 28-December 4, 2006.)
The expansion will provide railway access for local shippers and additional train capacity. Upgrades include improving:
- the grade separation for safety and rail mainline traffic flow
- road system access and egress for terminal users and neighboring properties
- rail infrastructure to provide better access to and from the rail mainline for connection into the terminal
- the transportation systems to enable more efficient site development
The site is eight kilometers off Highway 1 and has Canadian Pacific Railway (TSX:CP) and Canadian National Railway Co. (TSX:CNR) rail lines running through it. Landucci credited Ashcroft Mayor Andy Anderson with bringing federal attention to the project. He described the government funding for Ashcroft Terminal as a “co-sharing” agreement with additional private investment, which boosts the value of the project to between $10 million and $12 million.
While the funding is significant, being recognized by Ottawa as being part of the Asia-Pacific Gateway and Corridor Initiative is important to attracting customers. The federal financial commitment requires the funding to be spent by 2014. The federal investment for the project comes from funds previously set aside under the mountain pine beetle program, which ended in March and is being delivered through the Asia Pacific Gateway and Corridor Initiative.