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Prince Rupert announced that it has entered into a two-year agreement with DP World to assess the feasibility of putting up a new container terminal project in the port city.
In a statement, the port said the potential project would add up to 2 million twenty-foot equivalent units (TEUs) of annual capacity to the Port of Prince Rupert, significantly increasing Canadian trade capacity with critical Asia-Pacific markets, with considerable potential employment and economic impacts that will bolster the western Canadian economy.
"The proposed terminal represents the continued advancement of the Prince Rupert Port Authority's container terminal master plan done in 2019, which outlined the potential for an additional container terminal, south of the existing Fairview Terminal," the port said.
"With this agreement, DP World and the Prince Rupert Port Authority will begin various studies on the proposed site, with a key focus on steps required to minimize environmental and community impact, and improve the resilience of Canadian supply chains."
Viability of second container terminal
Maksim Mihic, CEO and general manager of DP World (Canada) Inc., noted that the agreement is a "clear demonstration of our commitment and confidence in the viability of a second terminal at the Port of Prince Rupert."
"Our vision for this proposed project will ensure the Canadian trade and supply chain landscapes are future-proofed," Mihic said. "The feasibility studies will employ a pragmatic approach, exploring the use of advanced technologies and ideas to position the new terminal as an industry leader within Canada and the world."
Prince Rupert said with Canada needing additional container terminal capacity within the decade, a second terminal in Prince Rupert will be an "innovative, sustainable project."
"As Canada's third-largest Port, Prince Rupert is a proven driver of sustainable economic development in northern British Columbia and has been fortunate to earn the support of communities throughout the corridor," said Shaun Stevenson, president and CEO of the Prince Rupert Port Authority.
"A second container terminal will help consumers, exporters and industries across the country while continuing to contribute significant economic benefit for local communities, the broader region and our Indigenous partners," he added.
Current expansion and logistics projects are positioning the existing Fairview Terminal as a fully integrated intermodal system that will provide unparalleled speed, efficiency, and competitiveness for Canadian shippers, Prince Rupert said.
It further noted that adding significant new capacity through a second terminal will increase industry access to faster service, wider reach, and the consistent reliability of the Port of Prince Rupert.
"Once the study period is complete, both partners will finalize a definitive project development plan that will be subject to regulatory review and authorization," the port added.
