Thank you, Mr. Speaker. As the Member stated, we were denied funding in the first round of the National Trade Corridors Fund. One thing I want to make light of that is there were over 300 applicants right across this country for this funding and a $2 billion fund, which I have always said at the FPT tables we could spend the whole $2 billion. We are competing against all of Canada for a small pot of money. That is not saying our project is any more or less desirable than any other one, just that there is a limited amount of funding.
We believe there is a second round of funding for this pot of money coming out this fall. It will be specific to the three northern corridors to carve out of the $400 million. We will be resubmitting our application to that when that call comes out. We believe that our application will have a very positive chance of being accepted through that process on the second round.
The other thing I think we need to be well aware of is that we have an opportunity now. I don't know if all the Members have seen that as of yesterday, they have appointed a CEO to the Canadian Infrastructure Bank. This project has a revenue-generating potential. We believe it has a good fit in the Infrastructure Bank. We will continue to pursue those opportunities as things move forward.