Capital Planning Updates March 2024

As an essential public service, it is our job to keep people moving safely and reliably. We review our capital plan regularly to ensure it’s helping us achieve those goals. Inevitably, that means some tough decisions as we must work within our budget.

During this year’s annual review, we prioritized two main aspects of our capital investment plan:

1. The work required to ensure the maintenance and continued reliability of our infrastructure
2. The delivery of vessels to replace our aging fleet and meet the growing capacity demands of the communities we serve, and the replacement of berths required to support new vessel introductions.

As a result, we have had to defer or adjust the scope of some of our previously planned projects to work within available funds. For more on project impacts for Thetis Island and Penelakut Island, please read on.

Although some adjustments have been made, our plans continue to include $356 million in capital investments this year, and approximately $2.2 billion over the next four years (Performance Term Six). We also plan to pursue additional funding opportunities that would allow us to re-evaluate capital expenditures before the end of the next performance term (March 31, 2028). We will keep you updated as we continue to re-evaluate.

What does this mean for Chemainus, Thetis Island and Penelakut Island?

As we note above, we have prioritized the work required to ensure the maintenance and continued reliability of our infrastructure for Thetis Island and Penelakut Island residents.

As a result, the Chemainus and Thetis Island terminal projects will focus on berth life extension work, rather than berth replacements as originally planned. This work will keep berths operating safely and reliably as we begin to plan for the introduction of Island Class vessels on this route in the mid-2030s.

Life extension work is anticipated to begin this year at both terminals, and we will be sure to inform the community as plans are developed.

We recognize the delays in these berth replacements also means concerns over available vessels for the route, especially in periods of refit. We are committed to looking at all mitigation options during these periods to ensure the islands continue to receive safe, reliable and uninterrupted service.

We thank you for your understanding as we make the challenging decisions required to ensure the maintenance and continued reliability of our infrastructure.