A company is seeking a renewed opportunity to bring new business to Sydney Harbour following the decision by Cape Breton regional councillors to terminate discussions with the firm. Albert Barbusci, the CEO of Sydney Harbour Investment Partners (SHIP), emphasized that the company had met its obligations under the agreement. Barbusci mentioned that SHIP was poised to establish a container terminal and an offshore wind project on a section of municipal land, but their contract with CBRM lapsed.
The CBRM council opted to halt negotiations with SHIP, citing a lack of visible progress from the company. In 2015, SHIP was granted the exclusive rights to develop a 1.74 square kilometre site owned by CBRM for a proposed container terminal. Despite two extensions, the contract expired in November 2024 without any structures being erected on the site.
Barbusci highlighted that SHIP had all the necessary components in place to construct a terminal but required government and rail operator support to restore train services to Cape Breton Island. Additionally, SHIP had plans for a project slated for this spring, coinciding with the anticipated announcement by the Nova Scotia government regarding seabed leases for offshore wind turbines.
As per the agreement, SHIP was expected to attract business and present CBRM with a 99-year lease agreement at no cost to the municipality. Barbusci stressed that the company had been funding these endeavors independently with no risk to the community.
The CBRM council held confidential meetings twice this month to deliberate on a potential new contract with SHIP. Despite a recent 6-6 vote to continue discussions, Mayor Cecil Clarke deemed the tie as a failed decision, signaling the conclusion of talks.
Barbusci expressed disappointment that council members did not engage with SHIP before voting. He underscored the importance of meaningful dialogue for informed decision-making.
Membertou First Nation holds a 25% stake in SHIP. Chief Terry Paul echoed Barbusci’s disappointment and emphasized that the projects were well-advanced on paper, with Membertou having made investments.
Another company, Atlantic Canada Bulk Terminal, is actively preparing for offshore wind projects, positioning itself as a leading contender when Canadian initiatives receive approval. Paul noted that developing major ports typically span over a decade, citing examples from other regions in Canada.
The situation underscores the complexities of port development and the need for thorough assessments and stakeholder engagements to ensure successful outcomes.
