The Government of Quebec today announced $55 million in financial assistance to the Montreal Port Authority (MPA) towards its $750 million container terminal project in Contrecoeur.
“The Government of Quebec’s backing is an important signal for the MPA and reflects a shared commitment to provide local businesses with a highly efficient supply chain, » said MPA President and CEO Martin Imbleau. « This funding will enable us to undertake the work necessary to develop the new container terminal in Contrecœur and to participate fully in the economic recovery.”
In December 2019, the plans for the major terminal project with a capacity of 1.15 million TEUs were given a significant boost through a commitment of up to $300 million in financing announced by the Canada Infrastructure Bank. Upon anticipated completion in 2024, it will boost the port’s capacity from 2.1 million TEUs to 3.5 million TEUs.
The announcement was made by the Minister for Transport and Minister Responsible for the Metropolis and the Montreal Region Chantal Rouleau and Minister of Transport and Minister Responsible for the Estrie Region François Bonnardel, flanked by MNA for Nicolet-Bécancour and Parliamentary Assistant to the Premier (St. Lawrence Project and innovation zones) Donald Martel, M.N.A. for Verchères Suzanne Dansereau and Mayor of Contrecoeur Maud Allaire.
« I am very proud to announce the confirmation of the Quebec government’s financial participation in the Contrecœur project, an important step in the development of port activities in the metropolitan region. The Contrecœur Terminal will increase the competitiveness of our St. Lawrence River thanks to modern port infrastructures. This project is in synergy with our vision of developing the St. Lawrence River into an efficient economic corridor,” said Minister Rouleau.
« With the pandemic, Quebecers have become aware of the importance of shipping for our supply of essential goods, » added Minister Bonnardel.
While this support remains conditional on obtaining the required authorizations, this funding will be used to carry out the start-up phase of the development project for the new Contrecoeur container terminal, making it possible to undertake site preparation and earthworks, among other things, and to build a visual and sound barrier.