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DP World’s latest terminal expansion was officially opened in Vancouver last month, during a ceremony attended by British Columbia’s minister of transportation, Kevin Falcon, and DP World chairman Sultan Ahmed Bin Sulayem.
Construction of the US$140 million project began in the third quarter of 2004 and the fi rst phase of the expansion was recently completed, with the second of the renewed berths now taking vessel calls.
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 and reach a capacity of 1.2 million TEU.
“The terminal has considerable potential as a gateway to Canada and also to the United States,” said Bin Sulayem. “Vancouver will benefit as cargo moves north in order to avoid congestion, placing increasing pressure on west coast ports. But, importantly, Vancouver is now 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, Bin Sulayem, who is also the chairman of DP World parent company Dubai World, said that there was considerable opportunity for investment 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.
The terminal became part of the DP World network with the acquisition earlier this year of P&O group.
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