More than $200 million in port investment spurs growth
May 5, 2011 Hamilton, ON – The Port of Hamilton is well on its way to reaching the goal of becoming the Great Lakes port of choice by 2020. An ambitious 2008 strategic plan developed by the Hamilton Port Authority (HPA) targeted $500 million in infrastructure investments and improvements to the port to reach that goal. At a recent HPA general meeting, directors were thrilled to announce that 2010 saw the port surpass projected development growth. In fact, 47 per cent of investments outlined in the strategic plan are now completed, committed or in negotiation.
Road, rail, building and security improvements have now been completed port-wide. The latest major project completed was the renovation of the 450 Sherman Avenue property. Six tenants are currently operating from this facility, including Hamilton-based hauler and warehousing operator Fluke Transport, as well as Sunlogic, a solar panel manufacturer who will create up to 200 new jobs.
HPA is focused on cargo diversification, with the intent of doubling the volume of non-steel related commodities moving through the port. New facilities by Parrish and Heimbecker, as well as McAsphalt Industries, are enabling bulk throughput capacity growth, as is the movement of oversized project cargo including the Molson fermentation tanks, windmill blades and pressure vessels. The port projects it will surpass the 4 million tonne mark in non-steel cargo by 2020.
“Development in the past year has created new capacity and elevated the port across the country and internationally, benefiting business across Hamilton and the broader region," said HPA president and CEO Bruce Wood.
The past year also saw the HPA partner with the City of Hamilton to undertake a major dredging project in the east harbour which saved the city over $4 million. Hamilton also welcomed its first passenger cruise vessel into the port, which resulted in a Tourism Hamilton Award.
The port’s strategic location and multimodal capability including marine, truck and rail, provide a sustainable system of moving a variety of commodities in the dry, liquid bulk and project cargo sectors.
About the Port of Hamilton:
The Port of Hamilton is the largest Canadian port on the Great Lakes in terms of both size and cargo handled. The Hamilton Port Authority’s strategic vision is to be the Great Lakes port of choice.
