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Western Canada To Get Oodles Of Cash To Develop Asia-Pacific Gateway Projects

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posted on Oct, 22 2006 @ 05:28 AM
Western Canada is going to get $591 million to invest in projects to keep the Asian money flowing into our country. Over a dozen projects have been slated.

"Our country is uniquely positioned to capitalize on the spectacular growth that is occurring in the Asia-Pacific region," the Prime Minister said. "Canada should be the crossroads between the massive economy of the United States and the burgeoning economies of Asia."

The Prime Minister announced federal contributions totaling $591 million for over a dozen Pacific Gateway projects. The goal is to help Canada capture a larger share of the West Coast shipping market. A total of $321 million will be immediately committed to a variety of infrastructure, transportation technology and border security projects in Western Canada, which are scheduled to be completed within four years.

"This is a massive undertaking. It is a collaborative effort involving all levels of government and the private sector," the Prime Minister stated, adding that private sector firms have committed over $3 billion in related capital investment in Asia-Pacific Gateway and Corridor-related projects between 2004 and 2010.

I think most of this money is going to go to my province, BC. It's nice to get some cash from the feds to increase access to the lucrative Asia-Pacific market and shipping traffic. I hope some of this money goes to the northern ports and doesn't all stay in Vancouver.

*This post has been brought to you in an effort to say something nice about the Conservatives

[edit on 22-10-2006 by Duzey]

posted on Oct, 22 2006 @ 06:07 AM

Originally posted by Duzey

*This post has been brought to you in an effort to say something nice about the Conservatives

Don't get too worked up yet Duzey, this money might be going to Alberta, Tory stronghold, to ship oil to Asia. That was my first thought. Damn, I'm cynical when it comes to the Gov.

BTW, that money is a pittance compared to what Quebec is getting, wouldn't you say?

posted on Oct, 22 2006 @ 09:45 AM
$591M CDN? A drop in the bucket compared to the private investment dollars being marshal-ed - not even coffee money. Van. alone needs a 3X increase in container traffic handling just to keep up in the next five years... gonna need a wack of container terminals. BTW: That does not even include the possibility/liklihood that Panama will "twin-track" the Canal (I think their referendum on it is not too far off).

Oil. Lots of oil and how to move it, Food. Lots of food and how to move it. We require more of every kind of infrastructure just to be "behind" the game... and Canada should be kicking itself for not "twin-tracking" rail and Trans-Canada routes decades ago when it was affordable. For me the big question will be "how"? Not "if", but "how" will Canada respond to the Asian Tiger of Commerce... forget the Yanks, I say go with the "new" money and manage it so as the balance of trade works in Canada's favour enough to pay for infrastructure upgrades and allows a little "to be salted away for a rainy day". Could be a busy place out in BC.

Let's not forget the East either... Russia and Newfoundland. Can you say "Energy-Gateway" to America? Williams and Putin see the value... shouldn't we all? Unless America really does "take over" our trading future is "super-power" league in all ways. Too bad we can't get qualified folks to work here, grown here... always our missing resource is "people".

Victor K.


[edit on 22-10-2006 by V Kaminski]

posted on Oct, 23 2006 @ 12:05 AM
I have a question: even if BC does expand its cargo container capacity to the neccesary limits to keep up with traffic from Asia, do we have the laborers for it?

Hells no. You can't even get a house built most days in Vancouver because contractors are bleeding you...mostly because they have fifteen calls for every man on the job.


posted on Oct, 23 2006 @ 05:52 AM
It turns out that the $591 million is for the Port of Vancouver expansion. It's definitely nowhere near the amount of money that is actually needed, but it's better than nothing. And no, it's nowhere near the cash Quebec will be getting.

I am a little concerned about all the talk of private investment in the Port, as it is supposed to be a crown corporation. The Liberal's (who are the conservative party under an electoral friendly name) are in power in BC and they are big fans of P3's. I like public-private partnerships, up to a point, but I don't want to see the port turn into one. I suspect most of the private investments they have lined up is Asian money.

I think the Chinese are paying for most of the needed infrastructure to get the oil to BC, and
to them. Canada really needs to diversify our trading partners and the Chinese always come calling with their chequebook in hand. They want what we've got, namely lumber and oil. It's a huge market and we have to position ourselves to take advantage of it.

The labour question is a good one, DE. It's going to be a problem, especially with the Olympics coming up. On the last project I worked on, we had a heck of a time even getting companies to tender bids because of labour shortages. It's a good time to be in the trades.

What's up with Russia-Newfoundland? I'm not really up to speed on Newfoundland industry. All I really know is that the DFO really screwed up the fisheries putting a bunch of people out of work and they have a bunch of oil and gas under the ocean. That and they like to hunt seals.

Edited to add this:

Looks like the Panama referendum got a positive vote.

Panama overwhelmingly backs massive expansion plan for its canal

[edit on 23-10-2006 by Duzey]


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