The Port of Vancouver continues to ask the federal government to increase its borrowing limit so it can move forward with its flawed Roberts Bank Terminal 2 (RBT2) expansion project.
The first request in the Port of Vancouver's submission to the House of Commons Standing Committee on Finance once again talks about expediting approvals and facilitating the "required" borrowing limit changes necessary for developing RBT2.
The Port continues to ignore there are already solutions to increase container terminal capacity at Roberts Bank and on the West Coast of Canada. Solutions that DO NOT require a borrowing limit increase for the Port Authority or the use of public funds.
GCT Global Container Terminals, the current container terminal operator at Roberts Bank – is ready to fund, with private sector investment, the construction of additional terminal capacity at Roberts Bank with its Deltaport Berth 4 (DP4) project. DP4 will expand the existing terminal footprint, adding additional capacity incrementally as it is needed while minimizing impacts on the environment and the community. And, at no risk to taxpayers.
Further, the private terminal operator at the Port of Prince Rupert has also announced expansion plans.
The role of government and government agencies, like the Port of Vancouver, is not to squeeze out private sector investment.
The $3.5+ billion of public funds required to build the Port’s RBT2 project would be better spent on upgrading Canada's Pacific Gateway with projects that make it and the supply chain more resilient and sustainable. Not on the unnecessary, environmentally devastating RBT2.