Within the next four years, Trigon Pacific Terminals Limited will double the capacity of its export terminal at the Port of Prince Rupert, thanks in large part to Canada’s National Trade Corridors Fund (NTCF).
The NTCF is providing $75 million for the project, with Trigon Pacific paying the other $88 million.
Along with significantly increasing the port's export capacity, the major investment will facilitate Trigon diversifying its activities, particularly in terms of delivering cleaner energy sources.
The federal funding will go to the construction of a second berth at the Port of Prince Rupert terminal. The new berth is expected to reduce vessel congestion, as well as increase the port's ability to export low-carbon fuels and alternative energy sources, including hydrogen. The terminal's capacity will be nearly doubled to 33.5 million tonnes.
Named B2BC for A Berth Beyond Carbon, the terminal is ideally located in terms of access to both Asian and North American markets.
In addition to supporting the transition to a more sustainable future, the expanded terminal will generate $1.2 billion in annual economic growth over five years and create numerous jobs. It is set to begin operations in 2026.