Quote:
Originally Posted by fromthelake
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As the others have said GCT is a terminal operator and tenant of PoV on the federally owned land under the jurisdiction of PoV.
The Port wants a new container terminal with a 3rd operator; GCT operates the existing Roberts Bank container terminal and Vanterm, DP World operates Centerm (and the terminals in Prince Rupert and Nanaimo).
It's the Port's job to enable trade through the port and large projects are generally Port led, such as the recent Centerm expansion. So far GCP has submitted an environmental assessment for the project; they have not submitted the project to the Port yet as would be typical for smaller privately led projects.
GCT touts how their project "will be privately funded" (not specifying fully or partially) and gives no risk to taxpayers. This is at best vague and at worst very misleading.
PoV is not taxpayer funded and self-funds projects from their income from leases and port fees along with private investment, the RBT2 project is no different.
Now IF GCT wants to 100% privately fund the expansion of their terminal PoV could approve the project (and should have no reason not to IF the environmental assessment returns no impacts), it's very clear that PoV won't be funding it. Reading their promotional material I see no indication GCT wants to fully fund a fourth berth themselfs.