FOR IMMEDIATE RELEASE
$40 M to increase Montréal Port Authority productivity and competitiveness
Montréal, May 23, 2017 - The Gouvernement du Québec is granting $40 million in financial assistance to the Montréal Port Authority in order to upgrade its infrastructures, which will help increase productivity and maintain the competitiveness of the Port, the second largest in Canada.
Mr. Laurent Lessard, Minister of Transport, Sustainable Mobility and Transport Electrification, Mr. Jean D’Amour, Minister for Maritime Affairs, and Mr. Martin Coiteux, Minister of Municipal Affairs and Land Occupancy, Minister of Public Security and Minister responsible for the Montréal region, in the presence of Ms. Sylvie Vachon, President and CEO of the Montréal Port Authority and Montréal Mayor Mr. Denis Coderre, today announced this major support for development and consolidation of assets.
This financial assistance will enable Québec and Canadian shippers to benefit, in particular, from gains in terms of terminal capacity and fluidity and, generally speaking, from a better quality-price ratio offered by the Port facilities.
This financial support is granted under Component 1 of the Programme de soutien aux investissements dans les infrastructures de transport maritime (PSIITM - Support program for marine transportation infrastructure investments), which seeks to ensure rapid and concrete implementation of the Maritime Strategy of the Gouvernement du Québec.
“The Port of Montréal plays an especially strategic role in the Québec economy. Our government is aware of the necessity of investing to maintain and improve the Port's competitiveness in relation to its international competitors. We therefore saw this project as a priority to enable the Port to consolidate and develop its different business niches and thus contribute to make marine transportation a lever of economic development in Québec.”
Laurent Lessard, Minister of Transport, Sustainable Mobility and Transport Electrification
“The improvement of our port infrastructures is one of the key components of the Québec Maritime Strategy. This is one of the key conditions for the maintenance of our status as gateway of international trade in North America. By investing in this way in the Port of Montréal, we are laying the foundations of sustainable prosperity and competitiveness that will benefit the entire Québec population.”
Jean D’Amour, Minister for Maritime Affairs
“To stand out from other major cities, Montréal must have modern infrastructures that will increase our economy's overall productivity. With its support for the Montréal Port Authority and the companies that use it, the Government is acting as a catalyst of Québec's economic development and prosperity.”
Martin Coiteux, Minister of Municipal Affairs and Land Occupancy, Minister of Public Security and Minister responsible for the Montréal region
“The Port is an invaluable partner for metropolitan development. For over a century, it has allowed Montréal to assert itself as a freight transportation hub throughout Eastern North America. This investment will enable Québec shippers to benefit from facilities permitting gains in capacity and fluidity.”
Denis Coderre, Mayor of Montréal
“On behalf of my team and all the Port's users, I thank the Gouvernement du Québec for this vote of confidence in the Montréal Port Authority. The project in question today has the goal of consolidating the development of port assets to support growth which, in fact, is achieving the objectives shared by the MPA and the Gouvernement du Québec, under the Maritime Strategy. The amounts allocated today will be invested strategically and contribute to the development and takeoff of the entire port and Montréal community, of course, as well as to the growth of the Québec economy as a whole.”
Sylvie Vachon, President and CEO of the Montréal Port Authority
The goal of the PSIITM is to favour investments in Québec's marine freight and passenger transportation infrastructures, with a concern for competitiveness and sustainable development.
It has three components:
- Component 1: Marine and intermodal freight transportation infrastructures
- Component 2: Freight transportation pilot projects
- Component 3: Marine passenger transportation infrastructures
The program addresses companies, municipal bodies and any other organization wishing to invest in marine transportation infrastructures that have an establishment in Québec. It is in force until March 31, 2020.
The Maritime Strategy is a government initiative seeking to take advantage of Québec's strategic geographic position to favour the creation of business opportunities related to the maritime economy. Its goal is to stimulate sustainable growth of the Québec maritime economy and encourage the creation of quality jobs in every region of Québec.
Programme de soutien aux investissements dans les infrastructures de transport maritime
Stratégie maritime du Québec
Office of the Minister of Transport, Sustainable Mobility and Transport Electrification
Office of the Minister of Agriculture, Fisheries and Food
Tel.: 418 643-6980
Office of the Minister for Maritime Affairs
Tel.: 418 691-5650
Minister of Municipal Affairs and Land Occupancy, Minister of Public Security and Minister responsible for the Montréal region
Tel.: 418 691-2050
Office of the Mayor of Montréal
Tel.: 514 290-1194
Direction des communications
Ministère des Transports, de la Mobilité durable et de l’Électrification des transports
Tel.: Québec: 418 644-4444
Montréal: 514 873-5600
Sans frais: 1 866 341-5724