The federal government is putting up more than $42 million to upgrade rail terminals in Saint John and McAdam, New Brunswick, as well as adding capacity at the Port of Saint John.
The federal government, through the National trade Corridors Fund, will contribute $21.16 million to upgrade rail terminals in Saint John and McAdam. The New Brunswick Southern Railway, a subsidiary of J.D. Irving, Limited, will contribute the same amount, which will bring the total investment of the project to $42.32 million.
It will also provide up to $21 million to the Saint John Port Authority to increase the cargo laydown capacity of the West Side Terminal, to enhance the crane capabilities of the terminal, and add to allow wheeled cargo capabilities. The port authority will contribute $4.2 million, and the province of New Brunswick will invest $16.8 million, which represents a total investment of $42 million.
“This funding announcement is a monumental step towards better supply chain efficiency in Canada. This will continue to spur major growth and private sector investment in our region which translates to hundreds of jobs,” said Craig Bell Estabrooks,
president and CEO, Port Saint John.
“These infrastructure improvements, combined with our current modernization project, will help our port create new capacity of 800,000 TEUs.”