Asian thirst for canola oil fuels major B.C. investments

Surging Asian demand for Canadian canola oil is fuelling investments at the Port Metro Vancouver as various players diversify operations and stray from their core business.

Pacific Coastal Terminals (PCT) is sinking $35 million into a project to build three tanks capable of holding a combined 45 million litres of oil and increase PCT’s liquid storage capacity by approximately 26%.

Wade Leslie, the company’s vice-president and general manager, told Business in Vancouver that he expects PCT’s tanks and new piping in Port Moody to be in operation before the end of the year.»