TransPod, the startup building the TransPod Line—a new ultra-high-speed transportation system—has announced the next phase of the multibillion-dollar infrastructure project in Alberta, Canada. Broughton Capital Group (“BCG”), in cooperation with China-East Resources Import & Export Co. (“CERIECO”), have agreed in principle to provide a combined $550 million finance and Master EPC arrangement respectively to accelerate development of a TransPod Line between Edmonton and Calgary and drive economic growth in the region. An already-released feasibility study on the TransPod Line revealed that the project will create up to 140,000 jobs and add $19.2 billion to the region’s GDP throughout construction, and the Master EPC arrangement is expected to involve significant contribution from Canadian contractors.
The feasibility study highlighted that the Alberta TransPod Line will add $19.2 billion (or 6.25 percent) to the province’s GDP by 2030. The Alberta TransPod infrastructure project will create 15,600 jobs per year, totaling 140,000 jobs over nine years. Riding TransPod will take 45 minutes from Calgary to Edmonton, at an estimated ticket cost of $72, compared to more than three hours spent driving or a plane ticket costing $129. Over the course of a year, the expected ridership between Calgary and Edmonton will reduce CO2 emissions by 636,000 tons per year, or the equivalent of planting a forest four times bigger than Calgary.
The next phases of the Alberta TransPod project will include research and development; construction permit; environmental assessment; and land acquisition (present-2024) in the short term. Test track construction, high-speed tests and certification (2023-2027) will be part of the medium term. Construction of a full inter-city line between Edmonton and Calgary (to begin in 2027) are part of the long term.
To support regional job development and provide employee training for the TransPod Line in Alberta, TransPod has partnered with Building Trades of Alberta to leverage its regional expertise and partner network. According to Terry Parker, executive director, Building Trades of Alberta, TransPod will not only help Canada tackle its carbon goals, but it will also create thousands of well-paying, community-supporting jobs for Alberta’s skilled trades workers, including those from Indigenous communities, women, new Canadians, and apprentices.
For more information, visit www.transpod.com.
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