CP, Maersk To Build And Operate Transload And Distribution Facility In Vancouver

(RTTNews) - Canadian Pacific Railway Limited (CP, CP.TO) said that the company and Maersk have reached a deal to build and operate a transload and distribution facility in Vancouver.

The CP transload facility will be an expansion of CP's existing Vancouver Intermodal Facility and will benefit from turnkey rail infrastructure.

Canadian Pacific noted that the transload facility is designed to apply Maersk's global integrator of container logistics strategy and will offer customers access to a multi-commodity transload facility that will rely on the substantial use of rail instead of truck in the Vancouver market.

The import transload facility will be operational in 2021, CP said in a statement.