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The extension takes capacity at the terminal from 360,000 TEU (twenty foot equivalent container units) to 800,000 TEU. There is also potential to further expand the terminal to reach a capacity of 1.2 million TEU. The terminal became part of the DP World network with the acquisition earlier this year of P&O group.
Sultan Ahmed Bin Sulayem said:
"Vancouver has considerable potential as a gateway terminal to Canada and also to the United States. As cargo moves north in order to avoid congestion that continues to put pressure on west coast ports, Vancouver will benefit. But, importantly, Vancouver is a destination port itself, and we see demand for quality marine terminal services increasing over time."
At a luncheon address to the Vancouver Board of Trade, Mr Bin Sulayem, who is also the Chairman of DP World parent company Dubai World, said that there was considerable opportunity for investment in developments in Vancouver and the surrounding area by other companies in the Dubai World stable. This included real estate, hotels and resorts, and retail outlets.
"Investment in infrastructure such as terminals, hotels and other developments stimulates economic growth across the board, which benefits both the local community and the company. It is very much win-win," he said.
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Posted by Lara Lynn Golden, News Editor
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