PSA partners with Ashcroft Terminal for inland services in Canada
PSA International (PSA) has, through its wholly-owned subsidiary PSA Canada Holdings Ltd, signed an investment agreement with Ashcroft Terminal (AT) to acquire 60% of its business in Western Canada.
The inland port facility located approximately 300km east of the Port of Vancouver (POV) and comprises 320 acres of free-hold industrial land.
The Canadian National (CN) Railway and Canadian Pacific Railway run through the terminal, transporting import and export cargoes to and from the POV, across Canada and as far as Chicago and other North American markets.
Besides its unique rail connectivity, AT is also located close to the major highways of British Columbia that serve much of the province’s resource industries.
Tan Chong Meng, Group CEO of PSA, said: “Ashcroft Terminal is PSA’s first foray into Canada and offers us an entry point into the hinterland supply chain for the North American market, as well as an opportunity to increase our capabilities in intermodal and inland container depot (ICD) operations. The terminal’s strategic location allows us to establish a common user ICD and provide greater options to cargo owners and consignees. We will partner with shipping lines, rail operators and trucking companies to implement a more robust, efficient and cost effective supply chain solution to serve the needs of major exporters in Western Canada.”
A recently announced CAD$28 million upgrade will further strengthen AT’s inland port and container handling capabilities, as the terminal is slated to receive a new rail 2 of 2 link to the CN main line, additional rail track of existing infrastructure, an internal road system and a multi-commodity storage facility. Transport Canada, through the National Trade Corridors Fund will provide a grant of up to CAD$9.2 million representing one third of the cost of the project.
For more information, visit: www.globalpsa.com
6th Aug 2018