CBRM formalizes agreement with port marketers
The Cape Breton Regional Municipality has officially granted Harbor Port Development Partners the exclusive right to market the port of Sydney for development, including building the financial and operating consortium to construct a new deep water port.
Council approved the agreement with partners Barry Sheehy and Albert Barbusci in June. The pair had already been working on the file for about 18 months and say they have spent $1.2 million of their own money on the effort. With a formal contract in place, the pair will continue to pay for their marketing activities.
The site consists of a 500-acre greenfield site and 1,800 acres of surrounding serviced brownfield lands.
Barbusci did not return a request for comment Wednesday.
Sydney harbour has been dredged at a cost of $37 million to accommodate the next generation of container ships.
Proponents note that Sydney is 400 kilometres closer to Chicago than the successful West Coast container terminal at Prince Rupert, B.C. Construction giant Bechtel is acting as consulting engineers and prime contractor for future phases of development in Sydney.
Sydney currently sees cruise, break-bulk and ferry traffic, handling 90,000 containers, 80 cruise vessels and 150,000 passengers.