Liricon Capital Ltd. and Plenary Americas, a portfolio company of Caisse de dépôt et placement du Québec (CDPQ), have advanced Phase 4, design, of the Calgary Airport – Banff Rail (CABR) project, which is planned to be built within the Canadian Pacific right-of-way but not share operations. CP, which has signed a non-binding MOU (memorandum of understanding) with Liricon/Plenary, told Railway Age that it is supporting the project and is prepared to offer design and engineering assistance, with the requirement that the passenger service have no impact on CP’s main line freight operations.
Canada Infrastructure Bank
Flush with cash, as its vast tar sands oil field suddenly lurched from environmental pariah to savior of western civilization, the Alberta government is looking more favorably upon a scheme to build a new, independent passenger railway, connecting Calgary International Airport (YYC) to the Rocky Mountain’s global tourist destination, Banff National Park.
A proposed 150-kilometer (93-mile) Calgary-Banff passenger rail project is moving ahead, following the release of a detailed MOU (memorandum of understanding) from Invest Alberta Corp., Alberta’s Ministry of Transportation (Alberta Transportation) and Canada Infrastructure Bank (CIB).
Tshiuetin, the first Indigenous owned and operated railroad in Canada, will receive C$55 million (US$44.1 million) from the Canada Infrastructure Bank (CIB) and the government of Quebec for modernization efforts.