The Vancouver Fraser Port Authority (VFPA) and GCT Global Container Terminals (GCT) have signed a Memorandum of Understanding (MoU) to work together on the development of the Roberts Bank Terminal 2 (RBT2) project. The agreement sets out a structured process for information sharing and good-faith negotiations, with the aim of establishing a joint delivery framework.
The RBT2 expansion is intended to increase container capacity, improve resilience across logistics networks and support Canada's growing trade volumes. Under the MoU, VFPA and GCT will work exclusively over a one-year period to assess potential synergies, evaluating technical delivery capability, commercial structure and long-term operating model. During this period, VFPA will continue to lead development of the RBT2 landmass, while retaining responsibility for overseeing construction. As part of the agreement, GCT will withdraw its application to the Major Projects Office.
Peter Xotta, President and CEO of the Vancouver Fraser Port Authority, said the deal strengthens stakeholder trust and enhances the value-creation potential of RBT2. Eric Waltz, President and CEO of GCT Global Container Terminals, stated that GCT's long Vancouver operating history will contribute to the RBT2 vision. The MoU marks a coordinated step toward structuring delivery of one of Canada's largest planned container projects.
Key Takeaways:
1. VFPA and GCT signed an MoU to jointly develop the RBT2 project.
2. A one-year exclusive period will assess the technical, commercial and operating model.
3. VFPA continues leading development; GCT withdraws its Major Projects Office application.
4. RBT2 is critical to expanding container capacity, resilience and trade growth.
5. The agreement frames the delivery model for one of Canada's largest planned container terminals.
