CIB Loans Cando $100M for Sturgeon Terminal Expansion Project
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AI Article Summary
The Canada Infrastructure Bank is financing a $100 million loan to Cando Rail & Terminals for the expansion of the Sturgeon Terminal in Alberta's Industrial Heartland. This project, expected to be completed by late 2026, will double the terminal's capacity by adding 3,700 new railcar storage and staging spaces. It will create up to 50 local jobs and boost the region's GDP by more than $22 million annually. The expansion will enhance Western Canada's supply chain by improving market access through connections to major ports.
