Canada has set aside close to CAD 44 million (USD 36.5m) for the expansion of the Port of Montréal, with Montréal Port Authority covering the remaining cost of the project, estimated at CAD 132 million (USD 109.4m).
The three main components of the project involve expanding container capacity in the Viau sector, deepening vessel berths, and improving truck traffic flow in and around the port. This work is expected to significantly increase the port’s handling capacity, facilitate the accommodation of larger vessels, and improve traffic flow for the more than 2,500 trucks that pass through the port daily.
The Port of Montréal will receive the government’s funding through the National Infrastructure Component of the New Building Canada Fund. This is the first funding announcement under the National Infrastructure Component and the first project to be funded under this program in Québec.
The project will help ensure the port facilities can support growth and meet increasing demand expected from the new Comprehensive Economic and Trade Agreement between Canada and the European Union.
”This substantial financial contribution from the federal government’s New Building Canada Fund will provide significant help in positioning the Port of Montréal to fully profit from growth opportunities in marine transportation in the coming years, particularly in the context of the implementation of the Comprehensive Economic and Trade Agreement (CETA). Optimizing our container-handling capacity and improving our marine and road access will hugely benefit our clients and partners here and elsewhere, not to mention the Canadian economy,” said Sylvie Vachon, President and Chief Executive Officer, Montréal Port Authority.