British Columbia’s Port of Prince Rupert will benefit from a provincial investment of $25 million (€20.5 million) to improve and expand operations.
The investment will support British Columbia and Canadian exporters’ competitiveness and opportunities in international trade.
The Prince Rupert Port Authority recently announced it had set another record for annual cargo volumes. Despite the challenges surrounding the COVID-19 pandemic, 32.4 million tonnes of cargo moved through the port in 2020, an increase of 9% compared to 2019.
The port’s highest total volume to date was led by a rise in exports of coal, propane, and wood pellets. Pinnacle Renewable Energy’s Westview Terminal had a record year, exporting 1,474,301 tonnes of wood pellets, an increase of 33% over 2019.
“Our investment in the Port of Prince Rupert will help create new good-paying jobs in our region while improving western trade corridors and helping Canadian importers and exporters get goods to market,” said Jennifer Rice, MLA for North Coast, on behalf of Rob Fleming, Minister of Transportation and Infrastructure.
“It will support regional businesses and provide the necessary infrastructure to boost our provincial economy to help build back stronger from the hit of the COVID-19 pandemic. This is an important investment in the future of Prince Rupert and British Columbia as a whole.”
The project, led by the Prince Rupert Port Authority, will improve and expand infrastructure at the Ridley Island Export Logistics Platform. The project, spanning more than 28 hectares, will create a platform to enhance the port’s capacity for transloading British Columbia and western Canadian natural resource products for containerised export by sea to international markets.
The project is expected to provide major economic benefits, including supporting regional businesses and creating 200 jobs in transloading, plus an additional 2,000 jobs in areas such as warehousing, longshore work, and trucking.
The project is funded through a mix of public and private investment, including a $49.8 million (€41 million) federal contribution through the National Trade Corridors Fund and a $25 million (€20.5 million) provincial contribution as part of a StrongerBC, B.C.’s Economic Recovery Plan.