The company has applied to Port Metro Vancouver for a permit approval for the project, which would take two years to complete.

Richardson’s Vancouver terminal is currently operating at maximum capacity, handling approximately three million tons of grain and oilseed each year.

In addition, the company plans to build a concrete grain storage annex with a total capacity of 80,000t at its Vancouver terminal. The project includes the installation of distribution equipment and an upgraded dust filtration system.

"Vancouver is the major port for exports of Canadian grains and oilseeds and this project is a significant investment in the Pacific Gateway," said Richardson International president Curt Vossen. "It supports Port Metro Vancouver’s vision to grow the port and increase Canadian trade and it is an investment in the local economy through the creation of hundreds of jobs during construction and another 40 to 50 permanent positions at our facility."