The Canada Infrastructure Bank (CIB) has signed a Memorandum of Understanding (MoU) with the Montreal Port Authority (MPA) to advance the development of a proposed container terminal in Contrecoeur port.

Under this MoU, CIB and MPA will work on financial structuring of the proposed terminal.

The port’s design plan, pre-procurement activities, construction, financing, operation and maintenance of the terminal form part of the due diligence.

The proposed terminal is expected to boost Canada’s economic growth and international trade by enabling importers and exporters to efficiently deliver products to market.

This terminal is expected to enhance the port’s infrastructure, which will in turn help to enhance the flow of goods from container ships. It will also help the port to cater to existing and future capacity requirements.

Montreal Port Authority president and CEO Sylvie Vachon said: “This commitment by the Canada Infrastructure Bank is a key milestone in the progress of our project towards its completion.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This collaboration with this new partner confirms the national importance of our project, whose purpose is to support the growth of international trade for Canada.”

Canada Infrastructure Bank president and CEO Pierre Lavallée said: “Our collaboration with the Montreal Port Authority demonstrates our commitment to developing trade and transportation infrastructure that will support Canadian economic growth in a responsible, efficient and sustainable manner.”

Considered to be the largest port in Eastern Canada, the Port of Montreal handled more than 1.7 million containers in 2018.

It also provides the shortest direct route to Europe, the Mediterranean and North America.