CALGARY, May 20, 2016 /CNW/ - Canadian Pacific (TSX: CP)
(NYSE: CP) today announced the Province of British Columbia has reversed a position that
formed the basis for an agreement-in-principle that would have seen
rafting companies granted access to cross active CP railway tracks
safely to the lower canyon of the Kicking Horse River.
On April 22, 2016, CP voluntarily
participated in good-faith discussions with the Mayor of
Golden, B.C., as well as
representatives from the Province and local rafting companies to
establish terms that would allow rafting companies and their
clients safe passage to the rapids across an active rail corridor,
while also satisfying safety concerns raised by Transport
Canada.
CP had agreed to offer a short-term solution for rafting
companies and the community of Golden to enjoy a safe and successful 2016
rafting season while potential longer-term solutions were weighed
by all stakeholders.
Among other key components of the agreement-in-principle, the
Province agreed to assume the risks associated with any
safety-related incident arising directly from this special access
for rafters.
CP is disappointed that it was informed by the provincial
government Friday afternoon of its reversal in position.
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway
in Canada and the United States with direct links to eight
major ports, including Vancouver
and Montreal, providing North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit cpr.ca to see
the rail advantages of Canadian Pacific.
SOURCE Canadian Pacific