The $75m investment, through Transport Canada’s National Trade Corridor Fund (NTCF) for cargo development, will be matched by YVR. It will enable the airport to increase overall cargo handling capacity by more than 50% 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.
Tamara Vrooman, president & CEO of Vancouver Airport Authority, said: “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 British Columbian and Canadian business with ready access to global markets for years to come.”
The federal funding is in support of a $150m 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 sq ft warehouse facility and will facilitate future dike raising work.
“By helping increase the capacity and efficiency of air cargo at 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,” said Minister of Transport Pablo Rodriguez.