SYDNEY, N.S. – A Chinese firm has signed a deal to design and build a proposed container port in Cape Breton.
Harbor-Port Development Partners, the firm behind the development of the port in Sydney, said in a statement Tuesday that it has reached an agreement with China Communications Construction Company Ltd.
The deal would see the Chinese company provide container cranes and other port-related equipment.
The company would also conduct an overall feasibility study.
Harbor-Port Development Partners also says discussions are underway on a potential equity stake in the project by the Chinese firm.
It’s expected the multi-year development of the port will cost more than $1 billion.
Albert Barbusci, chief executive officer of Harbor-Port Development Partners said his firm is looking forward to working with the Chinese organization.
“They share our vision regarding the unique opportunity to design and build a next generation highly automated facility which will serve the ultra large container vessels for decades to come,” said Barbusci.
Chang Yunbo, vice-president of China Communications Construction Company Ltd., said company officials expect to make their first working visit to Sydney early in the new year.
“Given its strategic location CCCC views Sydney’s deep water harbour as a potential game changer for the North American eastern seaboard.”
The Cape Breton Regional Municipality recently granted Harbor-Port Development Partners the exclusive right to market the Port of Sydney for development.