Cape Breton trades council signs MOU with Sydney port developer
Crucial to offer confidence to developers and carriers, says port promoter
Construction unions in Cape Breton are feeling optimistic about a proposed container terminal in Sydney, N.S.
"I wouldn't be here signing this if I wasn't confident," said Jack Wall, president of the Cape Breton Island Building and Construction Trades Council.
He signed a memorandum of understanding Wednesday along with Albert Barbusci, CEO of Novaporte, and Marlene Usher, CEO of the Port of Sydney Development Corporation.
Port officials and the trades council have been discussing the project for more than a year. Wall said construction could employ between 800 and 1,600 people.
There will be more than enough work for all of the trades, Barbusci said.
"I am sure the trade leaders will have to go beyond Cape Breton to bring in their workers," he said.
The MOU is meant to help secure an operator for the terminal.
"We need to provide that confidence to the carriers and potential port operators," he said.
Funding partners are in place, including Chinese investors and Canadian pension funds, Barbusci said. He hopes to secure an operator within a year.
"It's hard to pin it down, but within this next 12-month cycle we should have shovels in the ground."
The container terminal project is valued at $500 million to $600 million.