DP World, headquartered in Dubai, has successfully completed the Dh954 million Centerm Expansion Project in Vancouver. This significant development coincides with the 100th anniversary of the port’s marine terminal operations, marking a momentous milestone for both DP World and the port.
Vancouver plays a crucial role in facilitating international trade for Canada, handling a remarkable one-third of the country’s goods trade outside of North America. With an estimated trade value of approximately $305 billion, the port’s activities have a profound impact on the nation’s economy. The port’s operations support an impressive 115,300 jobs, contributing $7 billion in wages and a staggering $11.9 billion to Canada’s GDP.
The completion of the DP World expansion project marks a major advancement for the Port of Vancouver. By increasing throughput capacity by 60 percent, the project significantly enhances the port’s efficiency and positioning in sustainable trade. This expansion reinforces British Columbia’s status as a leader in promoting environmentally conscious practices within the global trade industry.
Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, expressed his enthusiasm for the completion of the expansion project and its alignment with the port’s centennial celebrations. He emphasized the significance of this milestone, highlighting Canada’s rich maritime and port history, while also looking ahead to the future. DP World’s industry-leading technology and innovative approach to supply chains play a pivotal role in shaping the port’s future success.
Moreover, Bin Sulayem emphasized the importance of responsible and sustainable management of Canada’s network of ports and terminals. This approach not only ensures efficient trade operations but also underscores DP World’s commitment to environmentally friendly practices and social responsibility. The company strives to be at the forefront of driving positive change within the industry.
With the completion of the expansion project, the newly enhanced terminal at the Port of Vancouver can now handle a remarkable 1.5 million twenty-foot equivalent units (TEUs) per year. This represents a significant increase from the previous capacity of 900,000 TEUs. Additionally, the expansion has added 15 percent to the overall footprint of the terminal, providing enhanced operational capabilities and accommodating the growing demands of international trade.
The completion of the Centerm Expansion Project is a testament to DP World’s commitment to excellence and its contribution to the development of global trade infrastructure. The company’s investments and expertise in port operations and logistics continue to drive economic growth and facilitate international commerce. By expanding the capacity and capabilities of the Port of Vancouver, DP World strengthens Canada’s position in the global trade landscape.
As DP World celebrates the successful completion of the Centerm Expansion Project, it looks forward to a future of continued innovation and technological advancements in supply chain management. The company, alongside its employees and partners, remains dedicated to promoting responsible and sustainable practices that shape the future of port operations in Canada and beyond.
In conclusion, DP World’s completion of the Dh954 million Centerm Expansion Project in Vancouver marks a significant milestone for the company and the Port of Vancouver. The expanded terminal’s increased throughput capacity and commitment to sustainability position the port as a global leader in trade. As DP World celebrates the port’s 100th anniversary, it reaffirms its dedication to driving responsible and efficient trade operations while shaping the future of Canada’s network of ports and terminals.
