24 June ’20 / allNovaScotia
Albert Barbusci, CEO, Sydney Harbour Investment Partners writes:
The team at Novaporte agrees fully with comments made by J. J. Ruest that terminals on Canada’s east coast are not quite modern enough, or on a scale, to participate fully in the key trade routes compared to the west coast.
The continued growth of the Port of Halifax and CN’s commitment to rail service is great for all of Nova Scotia. But we think a new deep-water mega port is best positioned for Sydney, NS instead of another province.
With environmental assessments, First Nations consultations, permitting and dredging all completed, and with local community and government support in place, Novaporte is the only port infrastructure project in the Atlantic Gateway ready to begin construction as early as this year.
Sydney’s strategic location as the first port of call and its position at the mouth of the St. Lawrence Seaway will make it a critical player in plans for aggressive transshipment strategies that will connect cargo from ULCVs coming through the Suez Canal and from Europe to North America.
When developed, Novaporte will have container capacity of 1 million TEUs in phase one and over 3 million TEUs by phase three. The 500-acre port site will include an additional 1,250-acre adjacent logistics park.
Our proposed upgrade of the Sydney rail subdivision will reconnect Cape Breton directly to the continental North American market. The combination of port and rail will serve as the backbone of Cape Breton’s long-term revitalization while significantly increasing Nova Scotia’s trade to GDP ratio.
As a private sector-led infrastructure development project, we have a target ratio of public to private investment of more than eight to one. This ensures there is a solid business case to attract private investment and minimizes government risk.
We look forward to working with CN, the community and government partners to make Nova Scotia home to the next new deep-water mega port on Canada’s east coast.
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