The idea of turning Sault Ste. Marie into a transportation or trade hub has been around for more than 100 years.
Strategically located in the heart of the Great Lakes, in the centre of Canada and in close proximity to the Midwest, Sault Ste. Marie was created as a trading post.
And over the past century, the city has been mainly industry-focused, with its port locations at the city’s western edge, already well utilized to ship product and materials in and out of Sault Ste. Marie and area.
Developing A Port of Algoma, which would have direct access to rail, road and barge connectivity and utilize the expertise of Essar Ports management, could create vast regional economic potential.
The historical value of Sault Ste. Marie’s strategic location is not lost on Anshumali Dwivedi, chief executive officer of the Port of Algoma.
Dwivedi has only been in Sault Ste. Marie for a year but, as an expert on port development, he already sees the economic development potential.
And to Dwivedi, that development, with the existing Essar ports, has already begun.
Last September, all three levels of government contributed to what was billed as a $5.34-million “game changer” for the economic growth of Sault Ste. Marie by contributing funds to a business case and project planning and preparing for the expansion of a regional harbour, to be called the Port of Algoma.
The project, one of the largest industrial transportation developments undertaken by the private sector in Northern Ontario and the Great Lakes region in decades, is believed to have an economic impact across the North and, potentially, even on markets abroad.
This is the third major study being completed that focuses on developing Sault Ste. Marie as a significant cargo and container port. The probe will include an analysis of traffic and business interest and look at value-added opportunities in the forestry, steel and aggregate sectors.
It will show how the port will be an economical enabler in various markets and study supply chain needs and shipping distances.
It will also delve into opportunities of developing the 440 acres of industrial land around with value-added businesses that will create synergies with the port.
And it will ultimately help businesses compare the costs of transportation between water and road.
It’s expected the study and its recommendations will be completed by year end and help the Port of Algoma and the Sault Ste. Marie Economic Development Corp., determine where it should focus its energies.
For the rest of this article, click here: http://www.saultstar.com/2015/06/13/port-of-algoma-plan-shows-promise