GCT invests $160M to support innovation and high paying port jobs

VANCOUVER, May 10, 2019 /CNW/ - GCT Global Container Terminals Inc. is proud to announce its $160 million investment to densify and modernize GCT Vanterm, creating approximately 1,200 new direct and indirect jobs and generating $77 million in wages and $187 million in GDP per year. Strategically located in the inner harbour, GCT Vanterm, is amongst the most productive terminals in North America. The $160 million upgrade at GCT Vanterm would increase container handling capacity and allow it to handle larger container ships within its existing footprint while significantly reducing greenhouse gas emissions at the terminal.

"GCT Global Container Terminals Inc. will continue to make private sector investments to ensure that Vancouver remains the port of choice and continues to be a competitive jurisdiction for transpacific trade", says Doron Grosman, President and Chief Executive Officer of GCT Global Container Terminals Inc. "The Governments are creating an environment for private sector investments like this one that generate hundreds of well-paying jobs for British Columbians."

About GCT Global Container Terminals Inc.
Vancouver, British Columbia-based GCT Global Container Terminals Inc. has been making waves in the container terminal industry for over a hundred years. Headquartered in Vancouver, BC, GCT Global Container Terminals Inc. operates four Green Marine certified terminals in two principal North American ports. On the West Coast, GCT Canada operates two gateway terminals: GCT Vanterm and GCT Deltaport in Vancouver and Delta, BC. GCT has also played a major role in developing Canada's Pacific Gateway. Through GCT USA on the East Coast, the company operates two award-winning facilities: GCT New York on Staten Island, NY and GCT Bayonne in Bayonne, NJ.  Visit www.globalterminals.com or follow us @BigShipReady to find out more about GCT.

BACKGROUNDER

GCT Vanterm $160M investment to densify & modernize includes:

• Replacement of the following Container Handling Equipment
  • Two new Ship-To-Shore cranes 
  • Ten (10) Rubber Tired Gantry cranes
  • Nineteen (19) Loaded or Empty Container Handlers
  • Forty (40) Tractor-Trailers
  • Other miscellaneous equipment
• Leasehold Improvements:
  • Replacement of the existing ship fendering systems, including replacement of ship bollards and fenders to accommodate and attract larger vessels calling Port of Vancouver
  • Replacement and upgrade to the Maintenance Building infrastructure
  • Civil work improvements to accommodate the stacking of 5 high loaded containers
  • Upgrades to Terminal Operating System & Real Time Positioning Systems

For more information watch video: https://youtu.be/V6UuTLeFPYQ

SOURCE GCT Global Container Terminals Inc

Media Contact: Louanne Wong, [phone], [email protected]