VANCOUVER, B.C. — The Vancouver Port Authority (VPA) offered the public its first look at Phase 1 in its container terminal expansion strategy.
The VPA is in the process of adding capacity for an extra 360,000 Twentyfoot Equivalent Units (TEUs) at the port’s two Burrard Inlet container terminals. That will bring the total capacity of the port to 1.97 million TEUs by 2005. The ultimate goal of the VPA is to be able to accommodate four million TEUs by 2020.
“Growth in containerized trade has been a global phenomenon and we envision the opportunity to expand our market share and increase our competitive position,” says Capt. Gordon Houston, president and chief executive officer of the VPA. “We believe we are one of the best prospects for economic renewal in British Columbia. Today’s announcement puts us on a solid path to facilitate trade for Canadians, create additional jobs and capture new business in this expanding sector.”
Over the past 10 years, the VPA has tripled its container movements to a total of 1.46 million TEUs in 2002. Construction is to begin on one of two new terminals later this summer.
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