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$2.1 billion committed to Trade and Transportation Corridors Initiative

By ReNew Canada 07:01AM July 05, 2017

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The Government of Canada has announced $2.1 billion for the Trade and Transportation Corridors Initiative (TTCI) to build stronger, more efficient transportation corridors to international markets.

The core element of the TTCI is the merit-based National Trade Corridors Fund (NTCF), which will provide $2 billion over 11 years to strengthen Canada’s trade infrastructure, including ports, waterways, airports, roads, bridges, border crossings, rail networks, and the interconnectivity between them. With the launch of this fund, proponents are being invited to submit an expression of interest for funding to support projects that address urgent capacity constraints and keep goods moving efficiently along Canada’s trade corridors.

“Investments through the Trade and Transportation Corridors Initiative will make a big difference for Canadian businesses,” said Marc Garneau, minister of transport. “It will allow them to get better access to international markets by addressing critical bottlenecks and ensuring that Canada’s transportation networks remain cost competitive and efficient.”

Up to $400 million of the NTCF will be dedicated to support the critical movement of people and goods in Canada’s Northern territories, given that region’s unique and urgent needs.

Garneau also announced two additional initiatives under the TTCI:

  • $50 million over 5 years to work with key partners to stay on top of new disruptive transportation technologies in order to update rules and regulations for UAVs and connected and automated vehicles; and
  • $50 million over 11 years to launch a Trade and Transportation Information System, to be implemented by a new Canadian Centre on Transportation Data, to have access to high-quality, timely and accessible information on our transportation system.

As part of this investment, the Government has announced that at least $5 billion will be provided through the Canada Infrastructure Bank to address trade and transportation projects.

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