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Hong Kong-listed builder to study feasibility of Nova Scotia box shop
HONG KONG listed China State-owned construction company, China Communications Construction Co (CCCC) has agreed to study the feasibility of a US$1 billion Nova Scotia container terminal.
The projected 500,000-TEU capacity terminal on Cape Breton Island would be able to handle 20,000-TEUers, IHS Media reported.
"There are no ports in eastern Canada or the US that can host vessels of this size," said Sydney Port Group CEO Marlene Usher.
The port authority is a wholly owned subsidiary of the Cape Breton Regional Municipality, which owns the terminal and 1,700 acres around the site where a logistics park could be built.
Under the agreement between CCCC and Harbour-Port Development Partners, an engineering consortium that includes CCCC and Bechtel will conduct a feasibility and design study starting in January at its own expense.
CCCC and its partners would also build the terminal and related infrastructure, but only if the Harbour-Port Development Partners fix financing and container lines that would agree to call the port.
The Sydney Port Group is working with Harbour-Port Development Partners to arrange financing and commitments from container lines to use the terminal.
"All the partners have to be in place in terms of the financing, the shipping lines and the terminal operator and the construction," said Ms Usher. "We're having discussions with all of those now."
The feasibility study by CCCC and Bechtel will probably take less than a year to complete because so much of the pre-feasibility work has already been done and the necessary data collected, Ms Usher said.
If the project proves feasible, a short rail spur from the terminal to an old, little-used Genesee & Wyoming rail line that connects trains with the main Canadian National Railway line 190 miles south.
The projected 500,000-TEU capacity terminal on Cape Breton Island would be able to handle 20,000-TEUers, IHS Media reported.
"There are no ports in eastern Canada or the US that can host vessels of this size," said Sydney Port Group CEO Marlene Usher.
The port authority is a wholly owned subsidiary of the Cape Breton Regional Municipality, which owns the terminal and 1,700 acres around the site where a logistics park could be built.
Under the agreement between CCCC and Harbour-Port Development Partners, an engineering consortium that includes CCCC and Bechtel will conduct a feasibility and design study starting in January at its own expense.
CCCC and its partners would also build the terminal and related infrastructure, but only if the Harbour-Port Development Partners fix financing and container lines that would agree to call the port.
The Sydney Port Group is working with Harbour-Port Development Partners to arrange financing and commitments from container lines to use the terminal.
"All the partners have to be in place in terms of the financing, the shipping lines and the terminal operator and the construction," said Ms Usher. "We're having discussions with all of those now."
The feasibility study by CCCC and Bechtel will probably take less than a year to complete because so much of the pre-feasibility work has already been done and the necessary data collected, Ms Usher said.
If the project proves feasible, a short rail spur from the terminal to an old, little-used Genesee & Wyoming rail line that connects trains with the main Canadian National Railway line 190 miles south.
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