Work continues behind the scenes on a fast ferry link between Nanaimo and Vancouver, but little has been made public since the September 2021 announcement. (Conqora Capital Partners)

By NanaimoNewsNOW Staff

LETTERS TO THE EDITOR

Water Cooler: What’s happening with the Nanaimo-Vancouver fast ferry?

Jun 17, 2022 | 2:13 PM

NANAIMO — The Water Cooler is NanaimoNewsNOW’s letters to the editor-style segment, featuring conversations about the news in Nanaimo and Oceanside.

This week’s feature deals with multiple questions we’ve received over recent months about the future of the fast ferry service announced last September. Here are just a couple:

Sue N., Vancouver: I read your (article) about the Nanaimo passenger ferry connecting to Vancouver. I’d love to see an update. I began working in the Nanaimo area during the pandemic. I am now back to the office in downtown Vancouver. Trying to make some decisions about where to live. The ferry would be a great way to commute downtown twice a week!

Michael O., Nanaimo: Any news on the fast ferry?

NanaimoNewsNOW: The short answer is no, there is nothing new to report on the new version of the fast ferry. However, work is absolutely continuing behind the scenes.

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When NanaimoNewsNOW broke the story on Sept. 16, we were told by Toronto-based Conqora Capital Partners CEO Rupesh Amin they were “close to being operational”, however roughly nine months have passed without an update.

The service is a partnership between Conqora, Snuneymuxw First Nation and the Nanaimo Port Authority to re-establish daily crossings between downtown Nanaimo and Vancouver for passengers only.

A 20-year lease between SFN and the Port includes access to the Nanaimo Assembly Wharf, welcome terminals, parking and passenger connectivity areas.

Funding for the project is coming from private sources, with Conqora bringing over two decades worth of experience in transportation-related projects.

Amin told NanaimoNewsNOW in September 2021 they are not focused on the short term when diving into a service like this.

“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.”

Further details were expected by Conqora Capital Partners on how the service would operate shortly after the September.

NanaimoNewsNOW has kept regular tabs on the high-profile project with those involved, as well as other stakeholders in the community.

All have told us the service is proceeding and considerable due diligence is being done to ensure the long term viability.

It’s worth reiterating, Conqora Capital Partners is no way affiliated with Island Ferries Services, which previously had agreements in place, but lacked the funds required to launch the service.

It is still expected Conqora will make a formal presentation of the service in Nanaimo at some point in the coming months, however no date for an event has been set.

We continue to actively monitor the situation and will endeavour to report any pending announcement from Conqora as soon as we’re able to.

Join the conversation. Submit your letter to NanaimoNewsNOW and be included on The Water Cooler, our letters to the editor feature.

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On Twitter: @nanaimonewsnow