GCT Global Container Terminals announced its $160 million investment to densify and modernize GCT Vanterm. This will create about 1,200 new direct and indirect jobs and generate $77 million in wages and $187 million in GDP per year.
Located in the inner harbour, GCT Vanterm, is amongst the most productive terminals in North America. The $160 million upgrade at GCT Vanterm aspires to increase container handling capacity by around 25%.
It will also enable it to handle larger container ships within its current footprint, while at the same time significantly reducing greenhouse gas emissions at the terminal.
Doron Grosman, President and Chief Executive Officer of Global Container Terminals Inc, mentioned:
Global Container Terminals will continue to make private sector investments to ensure that Vancouver remains the port of choice and continues to be a competitive jurisdiction for transpacific trade. The Governments are creating conditions for private sector investments like this one that generate hundreds of well-paying jobs for British Columbians
CT Global Container Terminals Inc. operates four Green Marine certified terminals in two principal North American ports. On the West Coast, GCT Canada operates two gateway terminals: GCT Vanterm and GCT Deltaport in Vancouver and Delta, BC.