Vancouver International Airport (YVR) has decided to cancel one of its largest infrastructure projects, which will contribute to future passenger growth and terminal building fuel needs.
The Airport Authority announced this morning Core program, The complex with the new central utility building, the geo exchange facility for the thermal heating and cooling needs of the terminal and the land transport center including the parcade expansion have been canceled.
There is construction on this complex The former site of value long-term parking space Between the current Parkade and the Petro Canada Gas Station – south of the International and Transformer Terminal building.
Official sensation on this project Occurred in June 2018, And construction was halted at the end of March 2020 in response to the onset of the COVID-19 pandemic.
By reducing the capital and future operating costs of these new facilities, the decision will protect the airport authority’s financial resources, YVR said. There is one Slight rebound in air traffic and passenger volumes in summer, But this is only 8% of what the airport usually sees at this time of year. The global aviation industry will take many years to return to its pre-epidemic level.
The complex was planned at a time when the airport is experiencing double-digit annual growth in passenger volumes.
YVR has spent $ 25,525 million so far for this particular project, but can re-launch it in the future when capacity is needed. It will take several hundred million dollars to complete.
On Tuesday, airport authority informed Ellisdon Corporation, the project construction contractor, of its intention to complete the core program. The two parties will finalize windfall arrangements together with the intention that all work on the current state of the project will be completed by the end of November.
“I would like to thank hundreds of construction workers, designers, engineers and members of our own team for their outstanding contribution to the core program over the past two years. It is a difficult but necessary decision to cancel this major infrastructure project. And we need to prioritize our resources elsewhere, ”said Tamara Vrooman, president and CEO of the Vancouver Airport Authority.
“I would like to emphasize that this decision is another step in safeguarding the continuing financial stability of the Vancouver Airport Authority so that we can continue to serve our community and focus our resources on the immediate needs of the airport.”
Airport Authority indicates it has entered the epidemic Strong financial base And continues to be one of the highest credit ratings at any North American airport. In the medium term, its financial resources will focus on projects that will help revitalize and revitalize the travel industry, such as pilots for health checks and examinations at the airport.
There will also be improvements to data and technology infrastructure, cargo facilities and airfield infrastructure.
As previously announced, Construction on the Pier de International Terminal building resumed earlier this summer. The In 300 Million project was also halted in March, but by that time it was almost complete, initially starting by the end of June.
Under the re-art start, this The terminal expansion will now be completed by the end of December, But we have to see when it opens. There are four jet bridge gates and four remote stand operation bus gates as well as eight new wide body gates, as well as new elevated food and beverage, retail and services.
These projects are part of YVR’s .1 9.1 billion expansion and improvement project in 20 years. Prior to the epidemic, the Airport Authority indicated that it was planning to expand the terminal building east of the Pier F Transformer Terminal building for the next major phase of improvements, with construction set to begin early this decade.