The Montreal Port Authority (MPA) has announced that the government of Quebec has granted CAD$75 million ($54.8 million) to its Contrecoeur expansion project.
The grant comes as part of the 2023-2024 budget unveiled by Éric Girard, Quebec’s Minister of Finance.
The project aims to increase container handling capacity.
It also aims to leverage the ecosystem of 6,000 transportation and logistics companies and the existing critical mass in Greater Montreal, to respond effectively to demand and continue growth.
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Martin Imbleau, President and CEO of the MPA, commented on the expansion project, stating that it “will have considerable positive economic spinoffs in a context where, with the recent crises that have affected supply chains and the economy, it is more necessary than ever to put in place the critical trade infrastructure for the future.”
“This gesture by the government of Quebec will have the effect of consolidating a strong link in the Saint-Laurent corridor for several decades,” Imbleau added.
In May 2022, the Montreal Port Authority (MPA) announced that a new phase was underway to complete its major expansion project in Contrecœur.
More recently in February 2023, the Port of Montreal earmarked more than CA$335 million ($247 million) in its new five-year investment plan for port infrastructure and development.