GCT Global Container Terminals has announced that it will invest US$160 million to densify and modernize its Vanterm container terminal, located in Canada.
A cash injection for the facility, which is described as one of North America’s most productive trade hubs, would increase Vanterm’s throughput capacity by approximately 25% and allow it to accommodate much larger container ships.
As part of the programme, GCT will replace existing equipment, including ship-to-shore (STS) cranes, rubber-tyred gantry (RTG) cranes and empty container handlers, with new machines, as well as upgrading Vanterm to a terminal operating system (TOS).
Uno Bryfors, ABB, discusses transforming terminals in the “mega-age” in a recent Port Technology technical paper
In addition to this, the investment is expected to create over a thousand direct and indirect jobs, generating $187 million in GDP a year.
GCT has also emphasized that there will be environmental benefits for the terminal, as it will be able to handle incoming ships within its existing footprint while, according to a statement, “significantly reducing greenhouse gas emissions”.
Doron Grosman, President and Chief Executive Officer of GCT, said: “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.”