Project Name: VIA Rail
Partner: VIA Rail Canada and Transport Canada
Location: Ontario, Quebec
Commitment: $55 million
Description: Canada Infrastructure Bank is working with VIA Rail Canada on their high frequency rail project. The project team will collaborate on project due diligence, financial advisory services and help fully develop the proposed project’s scope of work.
The proposed project involves building dedicated tracks along the Toronto-Ottawa-Montreal-Quebec City corridor and purchasing new trains to provide service along the route.
The project’s objective is to increase passenger train frequency, reduce trip times and improve service reliability.
The project also aims to create a more commercially successful, modern rail service that supports economic development in the most populous part of the country. The new, frequent service is expected to reduce vehicle emissions as passengers will leave their vehicles at home to avoid road congestion and create travel options for work, study and leisure pursuits.
VIA Rail Canada operates Canada’s national passenger rail service on behalf of the Government of Canada. An independent Crown corporation established in 1977, VIA Rail Canada provides service from coast to coast in both official languages. The Corporation operates close to 514 train departures weekly on a 12,500-km network, connecting over 400 Canadian communities. VIA Rail Canada carried close to 4.8 million passengers in 2018.
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