DP World, Prince Rupert Port Authority Ink Fairview Deal
- Business & Finance
DP World and the Prince Rupert Port Authority have announced an agreement to study further expansion of the Fairview Container Terminal in Prince Rupert.
The agreement was signed by DP World Canada Group General Manager, Maksim Mihic, and Prince Rupert Port Authority President & CEO, Don Krusel, further strengthening the commitment of their organizations to the development and growth of the Port of Prince Rupert.
DP World is the operator of the Fairview Container Terminal and construction is currently underway for the Phase II North expansion.
Under the Feasibility Study agreement, DP World intends to study current marine liner services and container volume growth forecasts for trans-Pacific trade on the West Coast, weighing demand for activation of Fairview’s Phase II (South) expansion to align the project schedule with market demand.
Maksim Mihic, DP World Canada Group General Manager, said: “Phase II South, which could potentially be delivered within the next three to five years depending on demand, would increase the total capacity of Fairview Container Terminal to in excess of 2 million TEUs, and would provide capacity to meet Canada’s Pacific container terminal capacity requirements for decades to come in a cost-effective and environmentally responsible manner.”
In early 2015, the Phase II North expansion project was launched, which will raise the terminal’s capacity to approximately 1.3 million TEUs upon completion in 2017.