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SYDNEY (NS) – March 7, 2009 – The development of the Port of Sydney as a major commercial cargo and passenger centre moved one step closer to reality thanks to an investment from the Government of Canada. The announcement was made today by the Honourable Peter MacKay, Minister of National Defence and Minister for the Atlantic Gateway.
“The Port of Sydney and the surrounding area is a key component of the Atlantic Gateway,” said Minister MacKay. “This investment will facilitate strategic long term commercial development positioning Sydney and area as a key transportation hub. It is an investment in the Island’s future.”
Enterprise Cape Breton Corporation (ECBC) is providing $1 million through the Sydney Ports Corporation Inc. to assist in the development of a newly incorporated marine transportation corporation whose primary purpose will be to manage and oversee the regulation, utilization and development of the Port of Sydney, its related transportation infrastructure and surrounding commercial development.
The Port of Sydney is the closest North American harbour to Europe due to its proximity to the North American Great Circle Route. The Port is well positioned to receive large cargo vessels bringing products to North America through the Suez Canal. Marine terminals within the Port are located within 10 kilometers of the ocean in a large, sheltered harbour. Rail connections provide a strong competitive advantage for moving cargo. Labour is readily available and there is an abundance of waterside land that can be used for future core, supporting and enabling commercial development.
Enterprise Cape Breton Corporation offers programs in support of economic development initiatives and is responsible for delivering ACOA’s programs on Cape Breton Island and the Mulgrave area.