Transport Minister Omar Alghabra announced a $94 million investment in a cargo development project at Toronto Pearson International Airport on 07JUL.
The funding, provided through the National Trade Corridors Fund, will be used to construct two new facilities: the South Cargo Transfer Development Facility (YYZ South) and the North Cargo Apron Development (YYZ North).
These facilities aim to enhance cargo capacity at the airport, with YYZ South increasing capacity for incoming cargo and YYZ North providing additional infrastructure for cargo aircraft parking spaces, which will also increase cargo capacity, the Government of Canada said in a statement.
"It’s no secret that the last few years have been difficult on supply chains here in Canada and across the world. Toronto Pearson Airport is a key player in Canada’s transportation supply chain, and today’s funding of nearly $94 million is great news for the airport’s cargo-handling capabilities, for our supply chains, and for Canadians," said Alghabra.
The National Trade Corridors Fund is a merit-based program that supports investments in critical transportation assets, with a total allocation of $4.6 billion over 11 years. It aims to improve Canada's roads, rail, air, and marine shipping routes, facilitating domestic and international trade.
Deborah Flint, President and CEO, Greater Toronto Airports Authority, said, "The substantial funding from National Trade Corridors Fund for our cargo development project will enhance our position as a vital gateway for global and domestic cargo operators. With improved capacity and infrastructure, we will facilitate faster and more efficient goods transfer, benefiting Canadian businesses and consumers."