DP World and the Prince Rupert Port Authority Sign Phase II South Feasibility Study Agreement
Prince Rupert, B.C. Canada; Dubai, United Arab Emirates, 15 December 2015: Today DP World and the Prince Rupert Port Authority 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 respective 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. Government of Canada approval has been received for the Phase 2 South expansion of the terminal further to the environmental assessment (Comprehensive Study Report) completed on terminal expansion in 2012 in accordance to the requirements of the Canadian Environmental Assessment Agency.
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.
This study is critical to the future growth of port operations within British Columbia and will serve as the basis for moving forward with this project in a timely manner. Additionally, the agreement included the intention to establish a cohesive and systematic approach to information sharing as well as environmentally sustainable port initiatives.
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.”
Don Krusel, Prince Rupert Port Authority President & CEO, said: “The growth in traffic at the Fairview Terminal, North America’s fastest-growing intermodal gateway, has been a validation of the Prince Rupert advantages in transpacific shipping. We are pleased to see DP World ready to seize those advantages and move forward with planning the terminal’s continued expansion.”
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.
About DP World Limited
Shares of DP World trade on the NASDAQ Dubai exchange. DP World has a portfolio of more than 65 marine terminals across six continents, including new developments underway in India, Africa, Europe and the Middle East. Container handling is the company’s core business and generates more than three quarters of its revenue.
In 2014, DP World handled 60 million TEU. With its committed pipeline of developments and expansions, capacity is expected to rise to more than 100 million TEU by 2020, in line with market demand.
DP World has a dedicated, experienced and professional team of over 36,000 people serving its customers around the world, and the company constantly invests in terminal infrastructure, facilities and people to provide quality services today and tomorrow, when and where customers need them.
Read more at http://web.dpworld.com/our‐business
Redwan Ahmed Jasmine Lindsay
DP World Limited DP World Limited
Direct: +97148080842 Direct: +97148080812
Mobile: +971505541557 Mobile: +971504220405
About Prince Rupert Port Authority
The Port of Prince Rupert is Canada’s second largest west coast port, and the closest North American Port to Asia anchoring a strategic gateway for trade in the Asia Pacific Region. The Port’s deep natural harbour is capable of handling the world’s largest ships, and direct connection to CN’s North American rail network offers extensive reach across the continent including key natural resource, manufacturing and distribution centres.
The Port of Prince Rupert has a current capacity of 35 million tonnes per annum featuring three modern dry bulk terminals handling coal, petroleum coke, agricultural products, and bio energy; an intermodal container terminal and cruise ship facilities. Nearly $50 Billion in Port expansion and projects under development could see the Port capacity expand to in excess of 100 million tonnes over the next decade including the expansion of the intermodal container terminal, expansion of dry bulk terminals, and new terminals under development for potash, LNG, liquid bulk, autos and break‐bulk cargoes. In 2014 cargo volumes through the Port of Prince Rupert exceeded 20 million tonnes.
Read more at http://www.rupertport.com
Manager, Corporate Communications
Prince Rupert Port Authority
Direct: +1 250 627‐2509
Mobile: +1 250 600‐4447