• Plans and money for a big expansion.


Artikel Nummer: 30037

Big investment to expand the port of Montreal

The port of Montreal's expansion is backed by the Canada Infrastructure Bank in Toronto. The finance institute will commit up to CAD 300 million towards the building of a container terminal in Contrecoeur that will about double the port of Montreal's capacity.


The “long-term” capital will bridge the gap between the start of construction and the time at which the new facility becomes profitable, CIB chief executive officer Pierre Lavallée pointed out at a recent press conference in Montreal. The bank’s commitment allows the port to continue working to complete the financial structure of the project, in collaboration with private sector investors.


It follows the signing of a memorandum of understanding between the parties in August this year. The container volumes in Montreal went up to 1.7 million teu last year. Construction would start in 2021, with the new terminal coming on stream in 2024. (fd)




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