PSA said it has, through wholly owned subsidiary PSA Canada Holdings, signed an investment agreement with Ashcroft Terminal (AT) to acquire 60 per cent of the business in Western Canada.

AT is an inland port facility about 300km east of the Port of Vancouver, and is the only major privately owned industrial property in Canada where Class 1 railroad lines – including Canadian National Railway (CN) and Canadian Pacific Railway – run through.

The rail network allows for transporting import and export cargoes across Canada, and as far as to Chicago and other North American markets.

PSA group chief executive Tan Chong Meng noted the terminal’s “strategic location”, saying PSA would partner shipping lines, rail operators and trucking companies to implement a more “robust, efficient and cost-effective” supply chain solution for major exporters in Western Canada.

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