NORTH VANCOUVER, BC, July 14 /CNW/ - Today marks the groundbreaking of the Lynn Creek Rail Bridge and Brooksbank Avenue Underpass Project, representing the first of several North Shore Trade Area improvements as part of the $225 million in public and private sector investments towards infrastructure improvements on the North Shore.
"Port Metro Vancouver is Canada's gateway to the world's most dynamic economies and serves as a major economic generator for the nation," said Robin Silvester, President and CEO, Port Metro Vancouver. "The North Shore Trade Area provides a critical connection to overseas markets for export products and the Lynn Creek Rail Bridge and Brooksbank Avenue Underpass project is a great example of infrastructure improvement that will directly support economic growth."
Port Metro Vancouver contributed $17.6 million toward the Lynn Creek Rail Bridge and Brooksbank Underpass infrastructure improvements, toward a total investment of $43 million. Other funding partners include the Government of Canada and Canadian Pacific.
"Today's project milestone is an example of the success of the Asia-Pacific Gateway and Corridor Initiative," said the Honourable Stockwell Day, President of the Treasury Board and Minister for the Asia-Pacific Gateway. "In the end, everybody benefits from investments in projects like this one: businesses save time and money, it creates jobs in the community and it strengthens Canada's trading position, especially with the Asian markets."
As part of the development plan, the project will give residents a north-south trail connection along Harbourview Park in support of the District and City of North Vancouver's community objectives.
"Today's announcement will provide increased Gateway capacity and deliver further improvement in supply chain efficiency and reliability," said Chris Badger, Chief Operating Officer, Port Metro Vancouver. "This trade area is made up of rail, terminals and industrial facilities that handle 35 per cent of all cargo volume through Port Metro Vancouver," he added.
Currently, North Shore terminals are estimated to generate 12,300 direct and indirect jobs in British Columbia, paying more than $600 million in wages annually.
Port Metro Vancouver is Canada's largest and North America's most diversified port, trading $75 billion in goods with more than 160 trading economies annually. Port activities generate 129,500 total jobs across Canada, $10.5 billion in GDP and $22 billion in economic output.
SOURCE Port Metro Vancouver
For further information: For further information: Duncan Wilson, Director, Communications and Government Affairs, Tel: 604-665-9067, Cel: 778-233-6991, Email: Public_Affairs@portmetrovancouver.com