Ports America, SHIP Announce Novaporte Deal
- Business & Finance
Sydney Harbor Investment Partners (SHIP) and Ports America have announced an agreement for the promotion, development and management of Novaporte, the marine container facility in the Port of Sydney, Nova Scotia.
SHIP has exclusive development rights to approximately 500 acres in the Port of Sydney and, with the support of Ports America and a specially formed development group, will build a dedicated, semi-automated, deep-water marine container facility capable of handling 18,000+ TEU vessels, Ports America said in its announcement.
Peter Ford, Chief Strategy Officer at Ports America, said: “Novaporte is a uniquely located deep water port able to handle the largest of the next generation of ultra-large container vessels.”
“Geographically, it is the first stop for vessels on the Great Circle Route from Europe and Asia via the Suez. It has abundant land, an adjacent 1,200-acre logistics park and is located in a foreign trade zone.”
Building will begin after establishing sufficient customer volume commitments. The construction work, once initiated, is expected to take approximately two years to complete.