Cecil Clarke says port agreement sign of confidence in Sydney port

A Chinese firm'sagreement to design and build a container terminal in the Port of Sydney isan indication of the confidence the global business community has in the port, says Mayor Cecil Clarke.

China Communications Construction Company (CCCC)will also provide container cranes, gantries and other port-related equipment, andmay take an equity stake in the port development project.

Inthe statement, CCCCsaid it "views Sydney's deep water harbour as a potential game changer for the North American eastern seaboard."

Representatives of CCCC plan to visit Sydney early next year.

Clarke was recently in China on port-related business. He briefed the public today about that visit and the new port agreement.

He saidthe Port of Sydney will not move forward unless all aspects of the supply and operating chain are in place.

"Until that's in place, we will not move forward with port development,but the investments to date show the confidence in the model for the Port of Sydney," said Clarke.