VANCOUVER, April 15, 2005 -- The Honourable David L. Emerson, Minister of Industry and co-senior minister for British Columbia announced today that the Government of Canada intends to invest $30 million to create a container terminal at the Port of Prince Rupert. British Columbia Premier Gordon Campbell also announced that the Province of British Columbia will match federal funding and increase its investment in the Port of Prince Rupert to $30 million. Both investments are subject to the finalization of necessary funding authorities. "The Government of Canada is helping to ensure that Canada's West Coast becomes a major opportunity gateway for trans-Pacific trade, investment and tourism," said Minister Emerson. "Investing in the expansion of the Port of Prince Rupert is one of the long-term initiatives that moves this gateway concept forward, creating new jobs and economic spin-offs for this region, and for all of Canada." "As Canada's only Pacific province, we have the potential to almost double our share of West Coast container traffic and create up to 45 000 new maritime jobs over the next 15 years -- and the expansion of the Port of Prince Rupert will play a critical role in that," said Premier Campbell. "The federal government's planned support of this project shows that Ottawa recognizes its importance not just to British Columbia, but to the national economy as well." Premier Campbell said the provincial government has already committed to invest $17.2 million toward expanding the port as part of the benefits of the BC Rail Investment Partnership, and pending the finalization of funding authorities, intends to provide an additional $12.8 million for a total contribution of $30 million. Located at the North American entry point of the North West Transportation Corridor, the Port of Prince Rupert offers the shortest land-sea transportation route to Asia. Today's announcement will help improve Canada's competitive position in Asia by enhancing trade and investment, and supporting Canada's competitive advantage in key regions, sectors and markets. "This planned investment is an excellent example of the Government of Canada's interest in helping our ports to become destinations of choice for the ever-increasing trade to and from Asia," said the Honourable Jean-C. Lapierre, Minister of Transport. "This planned investment will greatly enhance economic growth opportunities in north-central British Columbia and Alberta, while assisting the Prince Rupert Port Authority in expanding its capacity and strengthening its competitiveness." "The Province of British Columbia has a vision for its ports and our Ports Strategy is the plan that will make that vision a reality. Today's announcement is part of an aggressive strategy to capture rapidly increasing Asia-Pacific container trade," said British Columbia Transportation Minister Kevin Falcon. "The work of federal and provincial government and port industry partners is what has brought us here today. I am confident that as we continue to work together we will see even greater results for Prince Rupert." The Government of Canada has supported the development of British Columbia's transportation infrastructure with funding commitments of approximately $675 million over the last two years. "Western Economic Diversification Canada is working with communities across the West to ensure that Canada is able to take full advantage of the emerging economic opportunities in the Asia-Pacific region, including trade and investment and tourism industry development," said the Honourable Stephen Owen, Minister of Western Economic Diversification and Minister of State (Sport). "Over the last three years, Western Economic Diversification has invested over $4 million in the development of the Port of Prince Rupert to enable northern British Columbia communities to benefit from the growing cruise ship industry." In addition, all levels of government have collectively committed over $3.3 billion for British Columbia highway, rail, port and border infrastructure to ensure that goods move efficiently within the province and across Canada. "This announcement by the federal and provincial governments, working together to invest in Prince Rupert's marine infrastructure, is a tremendous vote of confidence in the Port of Prince Rupert and assures that the development of Canada's newest container facility will move ahead as soon as possible," said Don Krusel, President and Chief Executive Officer, Prince Rupert Port Authority. "It will create enormous opportunities for northern British Columbia and ensure that Canada's importers and exporters, right across this country, will have a new and uncongested gateway to the Asian marketplace. We join together with everyone who lives and works along the North West Trade Corridor, which runs through the Port of Prince Rupert, in congratulating and thanking both the federal and provincial governments for having the visionary leadership to invest in our future." The ports of Prince Rupert, Vancouver and Fraser River offer direct access to North Pacific shipping lanes, providing shippers significant cost and time advantages, and allowing for a competitive advantage in servicing Asia's fast-growing markets. This news release is available online at http://www.ic.gc.ca. -30- For more information, please contact: Christiane Fox Office of the Honourable David L. Emerson Minister of Industry (613) 995-9001 Mike Morton Press Secretary Office of Gordon Campbell Premier of British Columbia (250) 213-8218
