Amin said he’s aware of skepticism people may have about this type of service given past unsuccessful attempts.
He said prior passenger-only ferry ventures linking Nanaimo to Vancouver missed several important components, including being too thinly funded and having severe issues with their vessels.
“The opportunities haven’t failed because the demand isn’t there, the demand has always been there, even on those previous services,” Amin said. “It has typically been one of those other points that I just raised as to why services haven’t been able to be successful.”
Conqora Capital Partners has more than 20 years experience designing, building and maintaining large complex infrastructure projects around North America, including transportation initiatives, Amin said.
The Nanaimo to Vancouver fast ferry project is completely privately funded by Conqora and their investment partners who understand it will take time to stabilize the business in order to successfully run for many years, Amin said.
“That’s all part of what we build into our overall due diligence and understanding of the risk of the project and understand how we finance the project and the investors we bring in,” Amin said. “They are all partners that have a long-term investment horizon.”
All of the necessary contracts to operate the service were already signed, Amin said.
He said details about how the crossing will operate, the vessels involved and when it will begin are expected to be announced in the near future.
SFN chief Mike Wyse applauded the announcement, stating the it will have multiple benefits.
“Our Nation is delighted to announce our tripartite partnership that brings the long awaited fast-passenger ferry to our region. We always must be mindful that the Snuneymuxw Treaty of 1854 protects and preserves Snuneymuxw lands and waters, and enables trade and commerce in our territory,” chief Wyse stated.
Nanaimo Port Authority president Ian Marr called the pending ferry operation an extremely positive development for Nanaimo.
He said space will be available for the ferry on the back side of their cruise ship dock, while ferry riders will use the existing waiting area used by Helijet and cruise ship passengers.
“We have the space available and ready to utilize. It works in that area, it compliments other business, it doesn’t contradict it and allows us to expand the facility,” Marr said.
Efforts for several years by a different company failed to launch a downtown to downtown service. Prior proponent Island Ferries Services has no involvement with the venture by Conqora Capital Partners.
A short-lived passenger only ferry last operated between Nanaimo and Vancouver in 2006.
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'We're close to being operational:' new passenger-only fast ferry announced for Nanaimo to Vancouver - Nanaimo News NOW
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