The Vancouver Fraser Port Authority and Global Container Terminals Inc. have ended their seven-year battle over competing expansion plans, signing a memorandum of understanding to jointly develop the multibillion-dollar Roberts Bank Terminal 2.<\/p>\n<\/p>\n
Canada’s largest port and GCT, which operates a major container terminal at the port, had pursued rival proposals until this week’s truce. They will now collaborate on the port authority’s plan to build an artificial island for container expansion near GCT’s existing Deltaport operation, located 30 kilometres south of Vancouver.<\/p>\n<\/p>\n
Port leaders project the terminal will create 3,000 direct and indirect jobs during more than six years of construction. Once operational, the facility would employ up to 1,500 workers.<\/p>\n<\/p>\n
The partnership represents a significant shift for GCT, which had previously submitted its own expansion plans for the Deltaport facility to the federal government’s Major Projects Office in Calgary. The company has now withdrawn that application to focus on the joint RBT2 project.<\/p>\n<\/p>\n
GCT is owned by Ontario Teachers’ Pension Plan<\/strong> and Australia-based IFM Investors<\/strong>, each holding 37.5 per cent stakes. B.C. Investment Management Corp.<\/strong> owns the remaining 25 per cent.<\/p>\n<\/p>\n Under the memorandum of understanding, the parties will share information and negotiate in good faith toward a Joint Development Agreement for the terminal.<\/p>\n<\/p>\n The Port of Vancouver handled approximately 3.8 million TEUs<\/strong> (20-foot equivalent units) of exports and imports in 2025, representing a 9 per cent increase from 2024.<\/p>\n Last year marked a record for containerized cargo at the port, exceeding the previous high set in 2021. The strong growth underscores the need for expanded terminal capacity to handle increasing trade volumes.<\/p>","protected":false},"excerpt":{"rendered":" The Vancouver Fraser Port Authority and Global Container Terminals Inc. have ended their seven-year battle over competing expansion plans, signing a memorandum of understanding to jointly develop the multibillion-dollar Roberts Bank Terminal 2. Canada’s largest port and GCT, which operates a major container terminal at the port, had pursued rival proposals until this week’s truce. […]<\/p>\n","protected":false},"author":4,"featured_media":996,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46,37,48],"tags":[],"class_list":{"0":"post-997","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"category-news","9":"category-politics"},"yoast_head":"\nGrowing container traffic<\/h2>\n<\/p>\n