Canada's government to invest in Port of Montreal project
The Government of Canada will be providing up to $5.1 million for a major project to optimize infrastructure at the Port of Montreal. The project, which is predicted to cost more than $10 million, will involve maximizing the capacity of the Cast Terminal to better meet the needs of marine carriers that use the Port of Montreal. The Montreal Port Authority will cover the remaining costs of the project.
"With this third Infrastructure Stimulus Fund investment in the Port of Montreal, we are investing in the economic futures of Montreal, of Quebec, and of Canada," said the Honourable Denis Lebel, Minister of State for the Economic Development Agency of Canada for the Regions of Quebec. "Supporting Port of Montreal projects ensure job creation for people here, helps businesses that use this port to ship and receive cargo to become more competitive, and is just one more example of what our government is doing to stimulate our economy and secure a better future for us all."
The project to maximize the capacity of the Cast Terminal will enable the accommodation of two ships 280 to 300 metres in length. Work will include a 45-metre extension to berth 76 and improved access for the movement of handling equipment vis-a-vis section 75. Port officials say this work will enable them to serve their clients more efficiently because marine carriers will be able to dock larger vessels and achieve economies of scale.
"This new investment in our infrastructure projects by the federal government is excellent news, particularly given that since the start of the year, the number of containers handled at the Port of Montreal has increased steadily. The Port is a leader among the container ports serving the North Atlantic, and its markets are diversifying rapidly. In 2009, over one in five containers handled at the Port originated from or were headed for final destinations in Latin America, Southeast Asia, the Indian subcontinent or the Middle East. The investment announced today will help meet this growing demand," said Sylvie Vachon, president and CEO of the Montreal Port Authority.
In the last year, the Government of Canada has committed to investing more than $14 million in various projects through the Infrastructure Stimulus Fund to revitalize the Port of Montreal.
"With this third Infrastructure Stimulus Fund investment in the Port of Montreal, we are investing in the economic futures of Montreal, of Quebec, and of Canada," said the Honourable Denis Lebel, Minister of State for the Economic Development Agency of Canada for the Regions of Quebec. "Supporting Port of Montreal projects ensure job creation for people here, helps businesses that use this port to ship and receive cargo to become more competitive, and is just one more example of what our government is doing to stimulate our economy and secure a better future for us all."
The project to maximize the capacity of the Cast Terminal will enable the accommodation of two ships 280 to 300 metres in length. Work will include a 45-metre extension to berth 76 and improved access for the movement of handling equipment vis-a-vis section 75. Port officials say this work will enable them to serve their clients more efficiently because marine carriers will be able to dock larger vessels and achieve economies of scale.
"This new investment in our infrastructure projects by the federal government is excellent news, particularly given that since the start of the year, the number of containers handled at the Port of Montreal has increased steadily. The Port is a leader among the container ports serving the North Atlantic, and its markets are diversifying rapidly. In 2009, over one in five containers handled at the Port originated from or were headed for final destinations in Latin America, Southeast Asia, the Indian subcontinent or the Middle East. The investment announced today will help meet this growing demand," said Sylvie Vachon, president and CEO of the Montreal Port Authority.
In the last year, the Government of Canada has committed to investing more than $14 million in various projects through the Infrastructure Stimulus Fund to revitalize the Port of Montreal.