The $75m funding will be matched by YRV amounting to its $150m project. Credit: TommyLeiSun/ Shutterstock

Vancouver International Airport (YVR) announced a $75m investment from the Government of Canada for its air cargo project, with aims to boost the airport’s cargo handling capacity by more than 50%.

The Government of Canada made the finance announcement on 11 January and it is set to be delivered through Transport Canada’s National Trade Corridor Fund (NTCF).

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The $75m investment, which YRV will match, will enable the additional movement of 160,000 tonnes of “critical high-value cargo shipments” by 2027.

Work on the project began in May 2023 and is on track to be completed in 2028 under a phased plan. The new facilities include a taxiway extension, cargo apron expansion, and roadway improvements.

Tamara Vrooman, President & CEO of Vancouver Airport Authority emphasised the importance of the funding for air cargo operations.

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Vrooman said: “This critical funding expands our role as a gateway to the new economy by supporting air cargo capacity growth and sets a course for strengthening the local economy and providing British Columbia and Canadian businesses with ready access to global markets for years to come”.

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The airport is set to present a stronger supply chain between Canada and global markets, benefiting local businesses and consumers while also increasing its competitiveness.

Pablo Rodriguez, Minister of Transport added: “By helping increase the capacity and efficiency of air cargo at the Vancouver International Airport, today’s investment will strengthen our supply chain while reducing emissions.

“Investing in Canada’s supply chain is essential to making life more affordable for people, communities, and businesses across the country”.