Financial support for the expansion of the Port of Montréal in Contrecoeur
Press release
The Montreal Port Authority acknowledges the Quebec government's contribution
Montreal, March 21, 2023 — The Montreal Port Authority (MPA) is pleased with the additional financial support of $75 million granted to its expansion project in Contrecoeur by the Government of Quebec as part of the 2023-2024 budget unveiled today by Finance Minister Éric Girard.
The MPA thanks the Government of Quebec for this financial support and salutes its commitment to port development and essential supply chains for the benefit of the entire population. The Port of Montreal allows companies from Quebec, Ontario and the rest of Canada to export and import their goods by being connected to 140 countries on all continents.
"The Quebec government's support is an important signal for the MPA and a reflection of our common desire to serve Quebec businesses with a more efficient, sustainable and resilient supply chain," said Martin Imbleau, President and CEO of the MPA. "This contribution will allow us to continue the work required to develop the new container terminal in Contrecoeur and to participate fully in economic development, 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 trade infrastructures that are critical for the future. This move by the Quebec government will consolidate a strong link in the St. Lawrence corridor for several decades to come.”
The project aims to increase container handling capacity, while capitalizing on the ecosystem of 6,000 transportation and logistics companies and the existing critical mass in Greater Montreal, to effectively meet demand and continue the growth that began more than 50 years ago.
Operated by the Montreal Port Authority (MPA), the Port of Montreal is the second largest port in Canada and a diversified transshipment centre that handles all types of goods: containerized and non-containerized cargo, liquid bulk and dry bulk. The only container port in Quebec, it is a destination port served by the largest shipping lines in the world. It is also an intermodal hub with a service offering that is unique in North America, featuring its own rail network directly dockside connected to Canada’s two national rail networks. The MPA also operates a Cruise Terminal and a Port Centre. The MPA factors economic, social and environmental components into its corporate initiatives. This commitment is governed by a sustainable development policy whose guiding principles focus on involvement, cooperation and accountability. Port activity supports 19,000 jobs and generates $2.6 billion in economic benefits annually.ABOUT THE PORT OF MONTREAL
Located in an industrial zone, the Contrecœur land reserve was acquired 30+ years ago by the Montreal Port Authority and has been the focus of careful collaborative planning to support the development of the supply chain in Quebec and Eastern Canada. With the support of Canada Infrastructure Bank and the Government of Quebec, the Port of Montreal and its private partners intend to develop a new state-of-the-art container terminal to handle 1.15 million twenty-foot equivalent units (TEUs) when completed. Advantageously located in the main pool of consumers, importers and exporters in Quebec and Eastern Canada, close to major rail and road routes, the Port of Montreal’s Contrecœur expansion will make it possible to consolidate local strengths to effectively meet future needs. This project will strengthen the world-class logistics hub in the heart of the St. Lawrence Valley.ABOUT THE PORT OF MONTREAL CONTRECŒUR EXPANSION
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