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Invest Alberta Corp., Alberta's Ministry of Transportation and the Canada Infrastructure Bank (CIB) yesterday announced a detailed of memorandum of understanding (MOU) to continue to advance the proposed high-frequency passenger-rail service between Calgary Airport and Banff National Park.
The CIB has reaffirmed support for the project and will continue to consider a long-term investment, Invest Alberta officials said in a press release.
Project feasibility studies have been completed since an MOU was established in June 2020 between Alberta Transportation and CIB. There has also been strong private-sector interest demonstrated through an unsolicited proposal by Liricon Capital Ltd. to act as the project developer.
If it materializes, the project would support Alberta's economy by creating a critical airport rail link to downtown Calgary and Banff National Park, increasing tourism and reducing greenhouse-gas emissions and congestion in the travel corridor, planners say.
The project would also support the Banff National Park Net Zero 2035 initiative.