CP expands intermodal, takes on debt

Canadian Pacific Railway (CP), based in Toronto, Ontario, has completed an expansion project at its Vaughan Intermodal Facility in the northwestern greater Toronto area, making it the largest such rail-truck terminal in Canada. The Vaughan expansion boosts capacity by 70% to 400,000 container and trailer handlings annually. It will also decrease truck turnaround time at the terminal to less than 35

Canadian Pacific Railway (CP), based in Toronto, Ontario, has completed an expansion project at its Vaughan Intermodal Facility in the northwestern greater Toronto area, making it the largest such rail-truck terminal in Canada.

The Vaughan expansion boosts capacity by 70% to 400,000 container and trailer handlings annually. It will also decrease truck turnaround time at the terminal to less than 35 minutes, said CP.

The largest of 22 such terminals, the Vaughan Intermodal Facility has land space available for further expansion to almost 700,000 handlings a year. The Vaughan facility is at the heart of CP’s network of domestic, trans-border and international intermodal services across North America.

CP said its efforts to expand intermodal service have increased its trailer-on-train traffic 42% over last year. Much of that increase, said CP, comes from its new Expressway intermodal program-- a fast, roll-on/roll-off service for the short-haul market, which has been traditionally dominated by trucks.

In part to fund these new intermodal ventures, CP is planning a new debt offering of $750 million, to be completed by the end of this year.

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