Singapore terminal operator PSA International has made its Canadian foray, buying a 60% stake in Ashcroft Terminal in western Canada.
The terminal is an inland port facility located approximately 300 km east of the port of Vancouver.
Comprising 320 acres of freehold industrial land, it is the only major privately-owned industrial property in Canada where both Class 1 railroad lines – including Canadian National (CN) Railway and Canadian Pacific Railway – run through, transporting import and export cargoes to and from Vancouver, across Canada and as far as Chicago and other North American markets. Besides its unique rail connectivity, the terminal 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.”