Rail project to Banff could be part of the province’s master passenger rail study; set to be released in weeks

A passenger train to Banff could be cleared in Alberta's budget if province funds a train line from Calgary's downtown to the airport.

Alberta’s budget will drop next week and a passenger rail train to Banff could get the all-clear.

The project will be funded privately by Liricon Capital, but only if the province commits to building a train line from downtown Calgary to the airport.

The $1.5 billion passenger rail line proposed between Banff and downtown Calgary could be closer to reality.

“We are actually very optimistic that we are going to be able to push this over the finish line,” said Jan Waterous, managing director of Liricon Capital and the Calgary airport to Banff rail proponent.

The project’s finish line has been pushed back over the last several years.

Liricon Capital submitted it to Ottawa’s Major Projects Office in December.

The federal body can speed up projects it deems to be in the national interest.

But the hydrogen-powered train is contingent on the province pushing forward on an estimated $1.1 billion track from downtown to the airport.

“The federal government cannot really review our proposal in any fulsome way until they also have a proposal from the provincial government, the Alberta government, to build a train from the airport to downtown Calgary,” Waterous said.

Last year, Ottawa earmarked nearly $4 billion over five years for high-speed rail between Toronto and Quebec City.

Federal Minister of Transport Steven MacKinnon was in Calgary Wednesday. He is awaiting a master rail plan study from the province, which was supposed to be released last fall.

“I’m all ears when it comes to passenger and cargo rail in this part of the world,” MacKinnon said.

Alberta Premier Danielle Smith said the plan involves “eight or nine different segments.”

“It’s a longer-term plan, but it’ll be released in the coming weeks,” Smith said.

Calgary Mayor Jeromy Farkas says he is hopeful for significant investment.

“I’m going to be continuing to make the case for investment, particularly in transit, that benefits the Calgary region,” Farkas said.

Calgary’s business community is also on board, wanting to see greater connection between major hubs and the mountains.

“What seems to happen is that the focus has been on the population center in the east, and there’s been no attention paid to the West,” said Deborah Yedlin, CEO of the Calgary Chamber of Commerce.

“I do remember being able to travel between Edmonton and Calgary by rail. And I do remember when the rail service regularly scheduled was canceled in 1985.”

Liricon Capital is hoping to have trains rolling by 2030, with a cost of $30 per ride for Alberta residents.