‘We are committed to this and we will deliver’
Sydney port marketer optimistic of container terminal development
Eskasoni’s Esmond (Blue) Marshall may not be the most vocal member of the Cape Breton regional Municipality council, but some of his words have struck a chord with Port of Sydney marketer Albert Barbusci.
“I was very touched by his comments and it was really just a simple statement that came out of his mouth that ‘we’re going to work together,’” said Barbusci, the CEO of Sydney Harbour Investment Partners (SHIP), the company that holds the exclusive rights to market the port.
“He said he’s looking forward to giving the community’s kids an opportunity to stay in Cape Breton and it struck me that at the end of the day that’s what it’s all about.”
On Monday, Marshall and his fellow councillors voted overwhelmingly in favour of approving an Option and Development Agreement with SHIP that clears the way for the port marketer to negotiate and make deals for the development of a container terminal and logistics park on a coastal tract of land in Edwardsville, just north of the Sydport Industrial Park.
And, on Tuesday, Barbusci, a Montréal businessman, could hardly contain his enthusiasm as he expressed confidence that some good news may be forthcoming in the near future.
“We are committed to this and we will deliver, this is going to happen — this is really, really exciting,” he said.
“When the stars align your adrenaline takes over and you start to believe that you can make it a reality, but to do so you’ve got to be a believer.”
Barbusci may not live in Cape Breton, but if the tone of his voice, heard during a Cape Breton Post telephone interview, is any indication he’s as passionate about the future as any island resident.
“I think this community is there as well and people are now saying ‘we have to make this happen,’” said Barbusci, who with Gabarus’s Barry Sheehy formed SHIP’s predecessor, Harbour Port Development Partners, four years ago. Their business was given exclusive Sydney port marketing rights in June 2015.
Barbusci said while he and his partners are pleased that a significant political hurdle has been overcome, it’s the project’s supporters, their collective influence and ability to get things done that fuels his enthusiasm.
“Mayor Cecil Clarke acknowledged the long list of stakeholders in council the other day and if you look at that list you’ll see former Prime Minister Jean Chretien, who carries a lot of weight in China,” said Barbusci, who also gave a shout out to Cape Breton’s Mi’kmaq communities for their support.
“You have serious individuals and you have the best firms, so if we can’t make this happen with the bench that we have, our all-star lineup, then it’s not meant to be for Cape Breton — but that’s not the case and that’s why we’ve stayed the course, we believe that the industry has turned after bottoming out last year, it’s starting to make money again, and we want to catch this next wave.
“We’re really confident, we feel great, we’ve been confident from day one that we can revitalize Cape Breton because of the port’s strategic location and we truly believe that we are where we need to be, the table is set.”
Barbusci wouldn’t comment on any specific potential deal, but, like Clarke a day earlier, he hinted that something could be up in the near future.
“There will be some very interesting news that will follow this conversation in the near term, but right now it’s a little premature,” he said.
The agreement that council approved on Monday outlines the terms and financial structure of future port deals. It also includes the condition that when a deal is signed that the developer will be required to make an upfront payment of $10 million to the CBRM.
Prior to the 18 months of negotiations on the Option and Development Agreement, the CBRM spent $6 million on the purchase of the 431-acre Greenfield in Edwardsville. An additional $38 million was spent to dredge the harbour back in 2011.