The Honourable Denis Lebel, Minister of State for the Economic Development Agency of Canada for the Regions of Quebec and Member of Parliament for Roberval-Lac-Saint-Jean, Friday announced that the Government of Canada will be investing in a major project to optimize infrastructure at the Port of Montreal.
This investment of over CA$10 million will be used to maximize capacity of the Cast Terminal to better meet the needs of marine carriers that use the Port of Montreal.
The Government of Canada will also provide up to CA$5.1 million for this project under the Infrastructure Stimulus Fund. 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 Minister Lebel. "Supporting Port of Montreal projects ensure that businesses that use this port to ship and receive cargo to become more competitive."
The project to maximize the capacity of the Cast Terminal will enable the accommodation of two ships 280 to 300 meters in length. Work will include a 45-meter extension to berth 76 and improved access for the movement of handling equipment vis-a-vis section 75. This work will enable the Port of Montreal to serve its clients more efficiently because marine carriers will be able to dock larger vessels and achieve economies of scale. This optimization of infrastructure will improve the Port of Montreal's competitiveness and its ability to contribute to the regional economy.
In the last year, the Government of Canada has committed to investing over CA$14 million in various projects through the Infrastructure Stimulus Fund to revitalize the Port of Montreal.
The CA$4-billion Infrastructure Stimulus Fund, announced in the Government of Canada's Economic Action Plan, targets projects that can be completed by March 31, 2011. To date, the Government of Canada has committed over CA$126 million from this fund to 42 port projects in Canada, including CA$40.7 million for 11 projects in Quebec.