Port of Vancouver launches $2.2B terminal expansion to boost trade independence from U.S.

The Port of Vancouver has launched a C$3 billion (US$2.2 billion) tender process for the construction of a major new container terminal — part of Canada’s push to diversify trade and reduce reliance on the U.S. economy.

The Roberts Bank Terminal 2 Project, over a decade in planning, will include a 100-hectare marine terminal, new wharf, and connecting infrastructure. Once complete in the mid-2030s, the expansion will increase Vancouver’s container handling capacity by 2.4 million TEUs annually — a 70% increase over 2024 volumes.

The terminal will support over 18,000 construction jobs and contribute C$3 billion annually to Canada’s GDP, according to the port.

While some Canadian provinces are steering major contracts toward domestic firms, Port CFO Victor Pang said the RFQ process will remain open, with no formal restrictions on foreign bidders. However, Canadian material suppliers are likely to benefit from geographic proximity.

The move is part of a broader national strategy to accelerate "nation-building" infrastructure, with Prime Minister Mark Carney's government recently introducing legislation to fast-track such projects.

Read the full article here to explore how the Roberts Bank 2 terminal is shaping North American trade.