The project, which has the proposed name CP Logistics Park: Vancouver, would entail a 41-hectare facility with three major rail and transload components: an agricultural hub where Canadian agricultural products could be received by rail and transloaded into shipping containers for export; an auto compound to receive by rail North American-made automobiles for local distribution, including designs that could accommodate electric vehicles; and a liquid energy transload and rail facility that would serve the transportation fuels and ethanol needs for metro Vancouver.

"As Canada continues to seek sustainable ways to fuel our economic recovery, the CP Logistics Park: Vancouver would be a critical piece of infrastructure to keep Canadian goods moving, create jobs and build confidence in Canada as a strong and sustainable global trading partner," said CP President and CEO Keith Creel. "Moving goods by rail is environmentally sustainable, removes long-haul trucks from our publicly funded roads and highways, and ultimately reduces greenhouse gas emissions for the benefit of us all."

CP had alluded to developing facilities on its land assets during its third-quarter earnings call last month. The company has also been seeking to expand its export capabilities on both the West and East coasts of Canada.