EDMONTON, AB – Construction of a new world-class, multi-tenant cargo facility has started at Edmonton International Airport and already has more than half its space leased.
Work on the project was initiated by a group of Saskatchewan First Nations with a feasibility assessment completed in 2010 and the subsequent establishment of an equal partnership between the First Nations investment group and the Terracap Group, an Ontario based property development group.
Edmonton Air Cargo Development Group Limited Partnership will own the building, which will open in early 2012. The facility will provide 50,000 sq ft of cargo handling space with EIA providing 22,000 sq metres of cement, aircraft handling apron space. Total cost of the project will be $16 million.
“We are delighted to announce a premier cargo facility that will bring the business and commercial aviation experience to a totally new level at EIA,” said Larry Krauss, President of the Terracap Group. “The Capital Region’s economy is growing and infrastructure like this will be needed to support local businesses.”
“The new cargo facility is a component of our region’s Port Alberta vision,” added Wendy Cooper, CEO of Port Alberta. “The port is an initiative to establish a more integrated, efficient and competitive transportation and logistics system for the Capital Region. It is wholly supported by local businesses.”
EIA will continue developing infrastructure by completely modernizing and relocating all the airport cargo facilities. In 2010 EIA serviced approximately 200 acres adjacent to the primary runway. Today’s announcement and other land development projects reflect EIA’s more than $20 million commitment to ensure the infrastructure is in place to support flourishing cargo and general aviation sectors.
“We’re really pleased to welcome Edmonton Air Cargo Development Group,” said Reg Milley, EIA President and CEO. “This new cargo facility will help serve the growing need for cargo services in our region and make the Capital Region more competitive.”
