Canada’s Port of Montreal is to undergo major upgrades worth around US$106 million in a bid to become more competitive and support export growth in Canada.
The three main components of the project will involve expanding container capacity, improving the flow of truck traffic and to deepen vessel berths, according to the Construction Index.
Mayor of Montreal, Denis Coderre, said: “This investment will allow the Port to become even more competitive and further expand its global reach.”
The project will help ensure that the very busy port facilities can support growth and meet increasing demand, particularly the additional business expected from a new economic and trade agreement between Canada and the EU.
The agreement is anticipated to open new markets to Canadian exporters throughout the EU and expand two-way trade.
The Port of Montreal will receive funds designed to support projects that have a strong impact on Canada’s economic well-being, such as transportation and trade corridors.
Montreal is the second-largest port in Canada, after Vancouver, and handles around 30 million tonnes of cargo annually.
(Source: Port Montreal)