Sydney port marketers eye 99-year lease, or purchase, of site

A groupof Sydney port marketers got the green light from Cape Breton regional council Monday for exclusive rights to develop amarine container terminal and adjacent logistics park for the next five years.

Sydney Harbour Investment Partners recently signed a deal with Ports America, one of the largest terminal operators in North America, to operate the proposed Sydney terminal.

• Port deal could bring massive container ships to Cape Breton

The partnership's current two-yearagreement withCBRMis set to expire in June.

Council also approved arequest to the provincial government that would allow the municipality to offer a 99-year lease of the port site or failing that, to sell the sitefor $10 million.

That option that didn't sit well with District 6Coun.RayParuch.

"This is not just a simple signing of an extension to an existing contract. It is far deeper and far wider ranging than that."

• Why shipping developers think the time is right to build a container terminal in Sydney

Residents 'need this from our council'

District 4Coun.SteveGillespiesaid he supports the agreement with its lease and buyout options.

"What I care about are the business people in this community ... taxpayers in this community who need this from our council."

Under the Dec. 12 agreement, Ports America would manage and operate the Cape Breton terminal for 40 years andprovideservices such as full stevedore and terminal labour management, terminal operating systems, and maintenance and repair.

However the terminal project will not go aheaduntilthe port secures contracts with shipping lines.