Vancouver Expanding TEU Capacity

VANCOUVER - Feb 19/03 - SNS -- The Vancouver Port Authority (VPA) has started the first phase of a planned, multi-year expansion of its container terminal handling expansion.

With today's announcement, the Port of Vancouver will add an extra 360,000 Twenty-foot Equivalent Units of containers (TEUs) at the port's two Burrard Inlet container terminals, Centerm and Vanterm, for a new total capacity at the Port of Vancouver of 1.97 million TEUs by 2005. This represents the first step in the VPA's overall plan to reach 4 million TEUs of capacity by 2020.

"Growth in containerized trade has been a global phenomenon and we envision the opportunity to expand our market share and increase our competitive position," said Captain Gordon Houston, President and Chief Executive Officer, Vancouver Port Authority.

"We believe we are one of the best prospects for economic renewal in British Columbia. Today's announcement puts us on a solid path to facilitate trade for Canadians, create additional jobs and capture new business in this expanding sector."

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