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CALGARY, Oct. 21 /PRNewswire-FirstCall/ - Canadian Pacific Railway (TSX/NYSE: CP) welcomed the announcement by the Federal Government concerning the Pacific Gateway.
Fred Green, CPR Executive Vice President and Chief Operating Officer, said: "Today's announcement is a positive development as it reinforces Canada is moving to take full advantage of the tremendous growth of North America's trade with Asia. The federal government has recognized its critical partnership in creating positive economic growth for our country through its investment in transportation infrastructure."
Green noted today's announcement will help fast-track railway and related port infrastructure in British Columbia and along the trade route east of Vancouver that serves critical North American markets.
"The announcement is an encouraging sign to the private sector and offers the possibility to build upon CPR's investment of $160 million this year to expand our western track network," Green added. "The federal initiative helps further strengthen the Pacific Gateway as a key access point for all of North America. It also complements the Province of British Columbia's efforts to
reinforce the importance of the gateway."
About Canadian Pacific Railway
Canadian Pacific Railway is a transcontinental carrier operating in Canada and the U.S. Its 14,000-mile rail network serves the principal centers of Canada from Montreal to Vancouver, and the U.S. Northeast and Midwest regions. CPR feeds directly into America's heartland from the East and West coasts. Alliances with other carriers extend its market reach throughout the
U.S. and into Mexico. Canadian Pacific Logistics Solutions provides logistics and supply chain expertise worldwide.
SOURCE Canadian Pacific Railway
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