Cape Breton Regional Municipality Launches Marketing Effort to Develop Container Terminal in Sydney, Nova Scotia, Canada
News Release
Cape Breton Regional Municipality (CBRM)
July 13, 2012
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<P><SPAN class=xn-location>SYDNEY, Nova Scotia</SPAN>, <SPAN class=xn-chron>July
9, 2012</SPAN> /PRNewswire/ -- The Cape Breton Regional Municipality
(CBRM), located in <SPAN class=xn-location>Sydney, Nova Scotia</SPAN>, Canada,
today launched a marketing campaign to promote the strategic advantages of
developing a container shipping port terminal in <SPAN
class=xn-location>Sydney</SPAN> harbor. </P>
<P>The announcement comes after CBRM recently agreed to purchase approximately
500 acres of greenfield waterfront land for the purpose of building a container
terminal that will create jobs and lasting economic benefit for the community of
<SPAN class=xn-location>Cape Breton</SPAN>. The regional municipality, second
largest in <SPAN class=xn-location>Nova Scotia</SPAN>, will explore the
potential of entering a long-term concession agreement with an interested
terminal operator.</P>
<P>The greenfield site being acquired by CBRM sits on the edge of a newly
dredged channel into the Port of <SPAN class=xn-location>Sydney</SPAN> that can
accommodate without any restriction the world's largest container vessels.
Dredging was completed in January this year with local and federal funding.
Dredge spoils have been used to create a 150-acre expansion of the greenfield
site directly adjacent to the Port of <SPAN class=xn-location>Sydney</SPAN>
channel. (Photos are available at <A href="http://www.sydportgateway.com"
target=_blank>www.sydportgateway.com</A>)</P>
<P>The Port of <SPAN class=xn-location>Sydney</SPAN> is <SPAN
class=xn-location>North America</SPAN>'s easternmost harbor and closest to the
Suez Canal. It sits just six miles from the sea buoy marking the Great Circle
Route (GCR) from <SPAN class=xn-location>Europe</SPAN> and the Mediterranean,
offering considerable strategic advantages for ocean carriers. The Port of <SPAN
class=xn-location>Sydney</SPAN> also offers unrestricted double-stack rail
access to major inland cargo clusters in the U.S. Midwest along with the
potential for network feeder services along the U.S. East Coast.</P>
<P>Furthermore, a container terminal development in <SPAN
class=xn-location>Sydney</SPAN> offers the most compelling competitive economics
in <SPAN class=xn-location>North America</SPAN>, including the lowest cost to
build per TEU and the lowest ongoing operating expenses per TEU. All permits
have been received for construction and are fully assignable. Labor agreements
are in progress with the International Longshoremen's Association, AFL-CIO,
(ILA) to ensure <SPAN class=xn-location>Sydney</SPAN>'s competitive advantages
are realized. Further announcements will be made in the near future as the
project develops.</P>
<P>CBRM Mayor <SPAN class=xn-person>John W. Morgan</SPAN> said, "For the people
and the economy of our region, we are launching this effort with the full
support of our community to develop the greenfield site as the future location
of an international container terminal. The potential for job creation and
long-term economic growth is critical to the future of <SPAN
class=xn-location>Cape Breton</SPAN>."</P>
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<P><SPAN class=xn-location>SYDNEY, Nova Scotia</SPAN>, <SPAN class=xn-chron>July
9, 2012</SPAN> /PRNewswire/ -- The Cape Breton Regional Municipality
(CBRM), located in <SPAN class=xn-location>Sydney, Nova Scotia</SPAN>, Canada,
today launched a marketing campaign to promote the strategic advantages of
developing a container shipping port terminal in <SPAN
class=xn-location>Sydney</SPAN> harbor. </P>
<P>The announcement comes after CBRM recently agreed to purchase approximately
500 acres of greenfield waterfront land for the purpose of building a container
terminal that will create jobs and lasting economic benefit for the community of
<SPAN class=xn-location>Cape Breton</SPAN>. The regional municipality, second
largest in <SPAN class=xn-location>Nova Scotia</SPAN>, will explore the
potential of entering a long-term concession agreement with an interested
terminal operator.</P>
<P>The greenfield site being acquired by CBRM sits on the edge of a newly
dredged channel into the Port of <SPAN class=xn-location>Sydney</SPAN> that can
accommodate without any restriction the world's largest container vessels.
Dredging was completed in January this year with local and federal funding.
Dredge spoils have been used to create a 150-acre expansion of the greenfield
site directly adjacent to the Port of <SPAN class=xn-location>Sydney</SPAN>
channel. (Photos are available at <A href="http://www.sydportgateway.com"
target=_blank>www.sydportgateway.com</A>)</P>
<P>The Port of <SPAN class=xn-location>Sydney</SPAN> is <SPAN
class=xn-location>North America</SPAN>'s easternmost harbor and closest to the
Suez Canal. It sits just six miles from the sea buoy marking the Great Circle
Route (GCR) from <SPAN class=xn-location>Europe</SPAN> and the Mediterranean,
offering considerable strategic advantages for ocean carriers. The Port of <SPAN
class=xn-location>Sydney</SPAN> also offers unrestricted double-stack rail
access to major inland cargo clusters in the U.S. Midwest along with the
potential for network feeder services along the U.S. East Coast.</P>
<P>Furthermore, a container terminal development in <SPAN
class=xn-location>Sydney</SPAN> offers the most compelling competitive economics
in <SPAN class=xn-location>North America</SPAN>, including the lowest cost to
build per TEU and the lowest ongoing operating expenses per TEU. All permits
have been received for construction and are fully assignable. Labor agreements
are in progress with the International Longshoremen's Association, AFL-CIO,
(ILA) to ensure <SPAN class=xn-location>Sydney</SPAN>'s competitive advantages
are realized. Further announcements will be made in the near future as the
project develops.</P>
<P>CBRM Mayor <SPAN class=xn-person>John W. Morgan</SPAN> said, "For the people
and the economy of our region, we are launching this effort with the full
support of our community to develop the greenfield site as the future location
of an international container terminal. The potential for job creation and
long-term economic growth is critical to the future of <SPAN
class=xn-location>Cape Breton</SPAN>."</P>
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