Federal governnent names Roberts Bank Terminal 2 as a project of national interest

The Government of Canada has officially listed the $5.9 billion Roberts Bank Terminal 2 as a project of national interest under the Building Canada Act.

The decision provides upfront certainty on the remaining applicable federal regulatory authorizations, and accelerates the project’s commercial operations by up to four years, from 2039 to 2035.

“Canada is working. By listing Roberts Bank Terminal 2 as a project of national interest, we are better connecting our economy with the world and diversifying our trade. As the world competes for capital, Canada will not wait. We are building a stronger, more independent, and more competitive Canadian economy,”  said Prime Minister Mark Carney.

The project, led by the Vancouver Fraser Port Authority (VFPA), who is the proponent for RBT2, will:

• Add 2.4 million containers of annual capacity at Canada’s largest port.
• Increase container capacity at the Port of Vancouver by approximately 50 per cent.
• Cutting delivery times between Vancouver and Toronto by approximately 17 per cent.
• Avoiding roughly $800-900 million in annual shipping and transportation costs passed on to Canadians that could result from capacity constraints.

“Today’s listing decision is an important milestone for Roberts Bank Terminal 2 and for Canada. This nation-building project will unlock $100 billion in new trade capacity, create tens of thousands of jobs and strengthen Canada’s ability to reach markets around the world. At a time when expanding and diversifying our trade has never been more important, we’re excited to keep moving Roberts Bank Terminal 2 forward and build the capacity Canada needs for the future.” said Peter Xotta, president and CEO of the Vancouver Fraser Port Authority.

Featured image: (VFPA)