Musqueam Territory / Richmond, B.C.,
11
January
2024
|
20:14
Europe/Amsterdam

YVR welcomes funding to increase cargo and supply chain capacity for the region

Funds will support infrastructure development at YVR that will enable an additional 160 thousand tonnes of cargo movement through the airport

Summary

Vancouver International Airport (YVR) welcomes the Government of Canada's announcement made on January 11, which confirms new federal funding through Transport Canada’s National Trade Corridor Fund (NTCF) for cargo development at YVR.

Vancouver International Airport (YVR) welcomes today’s announcement from the Government of Canada, which confirms new federal funding through Transport Canada’s National Trade Corridor Fund (NTCF) for cargo development at YVR.

The $75 million investment, which will be matched by YVR, will enable the airport to increase overall cargo handling capacity by more than 50 per cent or 160,000 tonnes by 2027. The additional movement of critical high value cargo shipments though YVR will contribute to building a stronger and more resilient supply chain between Canada and global markets, benefitting local businesses and consumers and enhancing the airport’s competitiveness.

Over the past few years, the importance of air cargo to provincial, national, and global supply chains has become undeniable. This critical funding expands our role as a gateway to the new economy by supporting air cargo capacity growth, and sets a course for strengthening the local economy and providing B.C. and Canadian business with ready access to global markets for years to come. Cargo and our focus on growth and optimization is in direct service of our community and the economy that supports it. With a focus on improved sustainability and innovation throughout the supply chain, we will continue to strengthen our cargo operations to create more opportunity to connect B.C. products to the world while also bringing global products to local consumers.

Tamara Vrooman, President & CEO, Vancouver Airport Authority

The federal funding is in support of a $150 million project to expand air cargo facilities at YVR. Work on the project began in May 2023 and is progressing on schedule under a phased plan with substantial completion set for 2028. Facilities include a taxiway extension, cargo apron expansion, and roadway improvements. The apron expansion will create four additional aircraft stands that will accommodate Boeing 777 freighter aircraft, which are among the most fuel-efficient freighters in use and will contribute to the improved sustainability of cargo movement. The project also includes site preparation for future construction of a new 270,000 square foot warehouse facility and will enable future dike raising work.

By helping increase the capacity and efficiency of air cargo at the Vancouver International Airport, today’s investment will strengthen our supply chain while reducing emissions. Investing in Canada’s supply chain is essential to making life more affordable for people, communities, and businesses across the country.

Minister of Transport, Pablo Rodriguez

The funding and subsequent cargo expansion work at YVR represents a long-term commitment to work with Musqueam, government, and industry partners on important supply chain and transportation infrastructure projects that benefit our community and the economy that supports it. 

More information about the funding YVR has received through the National Trade Corridor Fund is available in Transport Canada’s news release. 

About YVR

Vancouver International Airport (YVR) is a diverse global hub that connects people, cargo, data, and ideas and serves as a platform for our community to come together and thrive. We are motivated by supporting regional economic development and making a positive difference in the lives of British Columbians. We do this with a focus on serving our passengers, partners, workers, and community through digital modernization, climate leadership, reconciliation, and financial sustainability.

YVR Media Relations
604-880-9815
media_relations@yvr.ca