Feds, B.C. sign agreement to accelerate major infrastructure projects

Prime Minister Mark Carney, and B.C. Premier David Eby, announced the signing the new Canada-British Columbia Cooperative Prosperity Agreement, which will further accelerate the construction of major energy and trade corridors throughout the province, including:

• LNG Canada Phase 2, Ksi Lisims LNG, Cedar LNG, and Woodfibre LNG: The federal government will work with proponents, communities, and First Nations to accelerate the permitting, financing, and construction of these projects to boost LNG supply for Canadians and our allies.
• Red Chris Mine Expansion: The federal government will invest $500 million to expand Red Chris Mine, which will increase Canada’s annual copper production by more than 15%, support critical minerals demand for clean energy and manufacturing, and reduce greenhouse gas emissions by over 70% once operational.
• North Coast Transmission Line: The federal government will provide $3.9 billion, through various tools, toward the total capital costs of Phases 1 and 2 of this project, to deliver clean, reliable, and affordable electricity to communities across British Columbia. The project has the potential to create $10 billion in new economic activity, while reducing emissions by up to three million tonnes annually. It will become the backbone of a clean-energy corridor, including a proposed Yukon-British Columbia Grid Connect that will increase the Yukon’s energy security and affordability, as well as a potential interconnect with Alberta to optimise power reliability and sustainability in that province.

In parallel, Canada and British Columbia are building the trade infrastructure we need to ship Canadian energy to new markets around the world, including:

• Transforming the Port of Vancouver-Roberts Bank trade corridor: The federal government will invest in infrastructure upgrades to Roberts Bank Terminal, expanding the capacity of the Port to ship to new export markets overseas. This project will unlock over $100 billion in new trade capacity and add approximately $3 billion to Canada’s economy every year.
• George Massey Tunnel Replacement (Fraser River Tunnel) Project: The federal government will provide up to $3 billion to replace the aging four-lane transport tunnel along Highway 99 with a modern eight-lane tunnel. This will break down a key Lower Mainland trade bottleneck to enable British Columbia and Canada to export more of what we produce, faster – while cutting travel times for people and goods across Greater Vancouver and traffic bound for BC Ferries to Vancouver Island.
• Port of Prince Rupert and the Port of Stewart: Canada will work with port authorities and First Nations to maximise the potential of these ports to serve as vital trade corridors for Canadian goods and services, including critical minerals.

These projects will be built in consultation and partnership with First Nations, creating unprecedented opportunities for First Nations co-ownership and economic benefits.

“Today’s historic agreement creates the conditions to transform the B.C. and Canadian economies to become more resilient, sustainable, and independent. Canada and British Columbia are broadening and accelerating major energy projects and trade corridors, protecting our land, wildlife, and waters, giving workers the support and opportunities they need to help build Canada strong, and creating extensive, large-scale opportunities for true partnerships with First Nations. Together, we’re turning British Columbia’s enormous economic potential into lasting shared prosperity. We’re building British Columbia strong to build Canada strong for all,” said Carney.

“This agreement is about building B.C.’s future – not just for this year, but for generations to come. It means more good jobs for workers and more opportunities to train for better pay, all while protecting the beautiful places that make our province so remarkable. This deal will deliver faster commutes as we build critical infrastructure, less pollution as we power growth with clean electricity, and the kind of shared prosperity that funds strong public services. I want to thank the Prime Minister for recognising the key role B.C. is playing in building a stronger, more independent Canada,” said Eby.

Featured Image: (BC Government)