21:43:09 EDT Thu 16 May 2024
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AltaGas Ltd
Symbol ALA
Shares Issued 281,730,643
Close 2023-10-06 C$ 26.06
Market Cap C$ 7,341,900,557
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Globe says AltaGas helping to revive Prince Rupert

2023-10-10 09:11 ET - In the News

The Globe and Mail reports in its Monday edition that the dream of Prince Rupert in Northern British Columbia becoming a major gateway for Asian trade is getting revived as the city shakes off its hard-luck image. The Globe's Brent Jang writes that while container shipments have slumped this year at the existing Fairview terminal operated by DP World PLC, the Prince Rupert Port Authority is confident that there will be increased demand for cargo handling in the long term. The port authority is collaborating with Dubai-based DP World to study the feasibility of constructing a second container terminal. Findings from the feasibility study will be available next year. Shaun Stevenson, the port authority's chief executive officer, is optimistic about the $2.5-billion terminal project and other growth prospects. "Given the long lead time of these projects, we need to start now effectively if we're going to be in a position to bring that capacity on, commensurate with the demand," Mr. Stevenson told The Globe. Calgary-based AltaGas and Royal Vopak of the Netherlands are planning an $885-million terminal on Ridley Island, near Prince Rupert, that would export liquefied petroleum gas, methanol and other bulk liquids.

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