To ensure port reliability and an increase in throughput capacity, Port Metro Vancouver and its partners are leveraging and extending Provincial and Federal funding for a generational investment in supply-chain infrastructure improvements.
Capital investments by Port Metro Vancouver and its tenants and stakeholders of more than $4 billion in infrastructure over the next ten years will help to stimulate the economy, while serving the trade and industry requirements of the region and nation in the future.
Port Metro Vancouver has developed a Gateway Infrastructure Program (GIP) to invest in supply chain improvements beyond traditional port activities and lands. Included in the GIP are a series of improvements in three locations:
- North Shore Trade Area
- South Shore Trade Area
- Roberts Bank Rail Corridor
Future improvements are anticipated for the Fraser River Trade Area and Fraser River Rail Corridor. The Port's stakeholders, including terminal operators, tenants, shippers, shipping lines and cargo owners, will benefit significantly from these improvements.
The projects included in the GIP were developed in consultation with port stakeholders and supported by independent analysis. Based on the preliminary design of these projects, the total capital cost of the improvements is $717 million.
In pre-funding the industry’s $167 million, Port Metro Vancouver has secured $3 million from other agencies for every $1 million its stakeholders are investing. Funding partners signed Agreements In Principle (AIP) for each area indicating their support for the projects and acknowledgement of the need for a cost-recovery mechanism.
Port Metro Vancouver has released its second Gateway Infrastructure Fee (“GIF”) Annual Report for the year ended December 31, 2012. This report was prepared in line with a commitment that Port Metro Vancouver made to industry during the GIF consultation process in 2010, that the GIF would only be used as a cost recovery mechanism and that the program would be transparent.
Read current updates on the status of Gateway Infrastructure Program projects and the Gateway Infrastructure Program project funding.