CCCC May Build Terminal in Sydney Harbour
By Aiswarya Lakshmi
Wednesday, December 9, 2015
China Communications Construction Co. Ltd (CCCC). has agreed to build a highly automated container terminal in Sydney Harbour, depending on the results of a feasibility study to be conducted next year.
Albert Barbusci, CEO of Harbor Port Development Partners (HDP), said that his company, which has the exclusive right to market the port of Sydney, has signed a deal with China Communications Construction Company related to the design, construction and ownership of a deep-water container terminal in Sydney.
It’s expected the multi-year development of the port will cost more than $1 billion.
HDP also says discussions are underway on a potential equity stake in the project by the Chinese firm.
Chang Yunbo, vice-president of China Communications Construction Company Ltd., said company officials expect to make their first working visit to Sydney early in the new year.
“Given its strategic location CCCC views Sydney’s deep water harbour as a potential game changer for the North American eastern seaboard.”
China Communications Construction Company is the largest port design and construction company in the world with over US$70 billion in annual turnover in 2014. It is also the world’s largest container crane manufacturer.
Cape Breton Regional Municipality Mayor Cecil Clarke welcomed the participation of China Communications Construction Company.