Federal port authority in Vancouver launches billion dollar plan

The Port Metro Vancouver plans to spend nearly C$1 billion (US$816.8 million) on harbour development in a decade-long plan through to 2018.

The federally-owned port has earmarked C$950 million, not including land acquisitions, for the Vancouver Fraser Port Authority, known as Port Metro Vancouver, out of its own resources, for the capital investment programme.

Private terminals and tenants also plan to spend an additional C$3.2 billion as well, in an overall scheme that will total C$4.25 billion, say InterVISTAS Consulting, whose report on the port's future was cited in Newark's Journal of Commerce.

That would mean that further investments depended on Port Metro Vancouver remaining competitive among the Ports of Seattle, Tacoma and Los Angeles, said the consultants' report.

Vancouver handles C$75 billion worth of cargo each year including 2.5 million TEU.

Source: http://www.schednet.com