Pacific Coast Terminals is awaiting approval from Port Metro Vancouver to handle canola oil at its facility in Port Moody. If approval comes through as expected, the facility will be handling canola oil by January 2015. Initial capacity will be 400,000 tons of oil per year and will add an additional $1 billion to the Canadian economy from exports. Pacific Coast’s $35 million expansion includes the construction of three 15,000 storage tanks and is expected to increase rail traffic to the port by 1.3% as well as increase vessel traffic. Pacific Coast is also awaiting permission to dredge a channel in the Burrand Inlet deep enough to allow vessels to navigate during low tide as well as high. The dredging is planned to be completed by December 2014.
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