CALGARY — Ottawa has designated a $5.9 billion expansion at the Port of Vancouver as a project of national interest, a move the federal government says could bring the new container terminal into operation four years earlier than previously planned.The designation covers Roberts Bank Terminal 2, which would increase the port’s container capacity by approximately 50% as Canada seeks to reduce its reliance on the United States and expand trade with overseas markets.The federal government says the decision provides greater certainty around remaining federal regulatory authorizations and could advance the terminal’s opening from 2039 to 2035.The Vancouver Fraser Port Authority, which is leading the project, is targeting a final decision on the proposed spending by mid-2027. The estimated $5.9 billion capital cost excludes financing costs.“By listing Roberts Bank Terminal 2 as a project of national interest, we are better connecting our economy with the world and diversifying our trade,” said Prime Minister Mark Carney.“As the world competes for capital, Canada will not wait.”The terminal would add 2.4 million units of annual container capacity at Canada’s largest port, with the government projecting that the additional capacity could support approximately $100 billion in trade each year.Ottawa estimates the project would support roughly 17,000 jobs across supply chains, contribute approximately $3 billion annually to Canada’s GDP during operations and generate about $631 million in annual tax revenue..UPDATED: Pacific Link oil pipeline named project of national interest, could generate $265 billion in Alberta royalties.The expansion forms part of the Port of Vancouver Gateway Strategy and supports the federal government’s goal of doubling exports to markets outside the United States by 2035.Transport Minister Steven MacKinnon said the project would address bottlenecks and strengthen transportation links used by Canadian businesses.“Getting goods to market quickly and reliably is essential to Canada’s economic success,” said MacKinnon.“Roberts Bank Terminal 2 will add much-needed capacity at our largest port, reduce bottlenecks and strengthen the transportation links Canadian businesses count on.”The government warns that without additional capacity, shipping constraints could leave Canadians facing between $800 million and $900 million in additional annual transportation costs beginning as early as 2031.Ottawa also points to projected benefits from accompanying rail, logistics and port improvements, including shorter delivery times and lower container import costs.The government says existing federal environmental assessment conditions will remain in place, alongside consultation with indigenous communities. It cites 27 mutual benefit agreements intended to provide training, employment, procurement and business opportunities.The announcement also outlines a conservation agreement with BC Ferries aimed at reducing underwater noise from its vessels in southern resident killer whale habitat by 50% by 2036.The port authority has selected TerraMarine as the preferred construction partner following a competitive procurement process.
