18.Jan.2021, Montreal QC – The Government of Quebec announced CAN$55 million in financial assistance to the Montreal Port Authority towards its intermodal expansion project in Port of Montreal’s Contrecoeur district.
The funds will cover half of the Phase I development of the new Contrecoeur container terminal, including site preparation and earthworks to build a visual and sound barrier, estimated at CAN$111 Million. The Port of Montreal will provide the additional project funds.
Subsequent development will include construction of two new berths able to handle a 4,400 TEU ship at each, a container handling area, an intermodal marshaling yard connected to the main rail network through direct interchange with CN and CP, and a truck gate connected to the road network. When completed, the additional Contrecoeur facilities will increase total Port of Montreal container capacity by 1.5 million TEU per year.
The total cost to expand the Port of Montreal to Contrecoeur is estimated at between CAN$750 and $950 million. The Investment Bank of Canada will provide CAN$300 million; the potential source of the balance has yet to be identified.
Construction is expected to commence in 2022 and last two years.