Wednesday, June 7, 2023

DP World completes AED954 million Port of Vancouver expansion

DP World and the Vancouver Fraser Port Authority celebrated two historic events, the completion of the Centreum expansion at DP World Vancouver and the 100th anniversary of the port’s marine terminal operations.

Sultan Ahmed bin Sulayem, Group President and CEO of DP World, said, “The centenary of the terminal’s operation on the West Coast is a wonderful opportunity to celebrate Canada’s rich maritime and port history and look to a future that includes DP World’s industry. Cutting-edge technology and innovation across supply chains. This is an opportunity for us, as well as our employees and partners, to celebrate a strategic, responsible and sustainable approach to managing Canada’s network of ports and terminals.

DP World and the Vancouver Fraser Port Authority close on the completion of the Centrem expansion project, an award-winning project worth AED 954 million (CAD $350 million) to increase throughput by 60%.

The recently expanded terminal can now handle 1.5 million TEUs per year, up from 900,000 TEUs previously, while adding 15% to total terminal space.

The project reduces the terminal’s environmental impact by adding the ability of container ships to connect to onshore electrical power and convert their diesel yard cranes to electricity. Further reduce greenhouse gas emissions by eliminating vehicle wait times at railway crossings and meeting LEED and certified sustainability standards.

DP World has pledged to invest $500 million globally over the next five years to help reduce its carbon emissions by 700,000 tonnes to become a net zero carbon company by 2050.

The Vancouver Fraser Port Authority also completed the South Shore Access project earlier this month in partnership with the Government of Canada and with resources from the National Trade Corridor Fund.

Nation World News Desk
Nation World News Desk
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