Pacific Coast Terminals (PCT) will remain in Port Moody until at least 2041 after signing a 30-year lease with Port Metro Vancouver.

"The City of Port Moody is pleased that PCT will continue its operations here for the next 30 years," Mayor Mike Clay said in a press release.

"PCT is a valuable community partner and has made significant contributions to our community. We are proud of their presence here."

PCT president and CEO Lorne Friberg said the longterm lease will allow the company to move forward.

"This lease will allow us to move ahead in our strategic planning and explore expansion into new products and markets," Friberg said in a press release.

Originally based in New Westminster, the marine bulk terminal opened facilities in Port Moody in 1960. PCT operates the world's largest and most automated export sulphur marine terminal, loading more than two millions tonnes of sulphur per year.

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