Vancouver Port Plans Big Spending for Expansion

(Journal of Commerce Online – Courtney Tower)

Port Metro Vancouver plans spending of just under C$1 billion to improve and expand operations between 2008 and 2018. The 10-year capital investment of $950 million, not including expected land acquisitions, is by the Vancouver Fraser Port Authority, known as Port Metro Vancouver, out of its own resources. The authority is owned by the Canadian government but gets no funds or subsidies from it.

Terminals and other cargo-related tenants of the port plan to spend an additional $3.2 billion on capital investments, in an overall spending plan by port tenants of $4.25 billion, according to a consultants’ report published Tuesday.

The report says some firms planning capital expenditures reported doing so “with the caveat that business continued to be ‘good.’ “That would mean that further investments depended on Port Metro Vancouver remaining competitive among the Ports of Seattle, Tacoma and Los Angeles.” Read the rest here.