Ottawa fast tracks Roberts Bank Terminal 2

Key Takeaways:

• Ottawa listed the $5.9-billion Roberts Bank Terminal 2 as a project of national interest, speeding up the terminal’s operational start date by four years to 2035.
• The development expands Port of Vancouver container capacity by 50% (2.4 million containers annually) to support up to $100 billion in yearly trade.
• The Vancouver Fraser Port Authority named TerraMarine as its preferred construction partner, targeting a final investment decision by mid-2027.

The Whole Story:

The federal government has officially designated the $5.9-billion Roberts Bank Terminal 2 (RBT2) project as a matter of national interest under the Building Canada Act, providing upfront regulatory approvals to fast-track commercial operations at the Port of Vancouver by up to four years.

Announced Oct. 30 in Delta, B.C., the listing under Schedule 1 of the Act establishes regulatory certainty for remaining federal permits, positioning the container terminal project for a final investment decision (FID) by mid-2027. Under the accelerated schedule, the terminal is projected to enter service in 2035 rather than 2039.

The project, spearheaded by the Vancouver Fraser Port Authority (VFPA), will add a three-berth marine container terminal at Roberts Bank, increasing the Port of Vancouver’s container throughput capacity by roughly 50% through the addition of 2.4 million twenty-foot equivalent units (TEUs) annually. Federal officials positioned the expansion as a cornerstone in Ottawa’s trade diversification strategy, which aims to double Canadian exports to non-U.S. markets by 2035.

Federal projections indicate the expanded trade infrastructure will:

• Support up to $100 billion in annual trade flow and add approximately $3 billion annually to Canada’s GDP.
• Create roughly 17,000 direct and supply-chain jobs while generating over $630 million in annual government tax revenues.
• Prevent an estimated $800 million to $900 million in annual shipping congestion costs passed to Canadian consumers, while trimming delivery times between Vancouver and Toronto by approximately 17%.
• Advance 27 Mutual Benefit Agreements with Indigenous communities to secure long-term training, procurement, and commercial participation.

“Canada is working. 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. We are building a stronger, more independent, and more competitive Canadian economy.”

Transport Minister Steven MacKinnon emphasized that the project will alleviate mounting West Coast bottlenecks: “Getting goods to market quickly and reliably is essential to Canada’s economic success… Listing this project as a project of national interest gives us greater certainty to move it forward and build a stronger, more efficient trade gateway on the West Coast.”

Peter Xotta, President and CEO of the Vancouver Fraser Port Authority, confirmed that consortium TerraMarine has been chosen as the preferred construction contractor following a competitive bidding process.

Alongside the designation, Ottawa highlighted marine conservation measures, including nearly $2 billion in targeted habitat and species investments. This encompasses a formal conservation pact with BC Ferries aimed at cutting underwater vessel noise in Southern Resident Killer Whale habitats by 50% by 2036.