The Port of Montreal is receiving a $132-million makeover to handle the expected increase in exports to the European market.
Federal Infrastructure Minister Denis Lebel announced today that Ottawa will provide $43.7 million to the project. The remainder of the money will come from the port itself, which is expecting more business as a result of the recently signed free trade deal between Canada and the European Union.
The money will go toward deepening mooring posts, facilitating the circulation of trucks and increasing the port’s capacity to handle containers.
The Port of Montreal is the country’s second-largest, after Vancouver, and the fifth-largest along the eastern North American coastline.
This is the first announcement of funding under the National Infrastructure component and the first project to be funded in Quebec under this program.
“With the new Building Canada Fund, the support of our government for public infrastructure has never been stronger,” said Lebel. “We are committed to investing in priority infrastructure projects that focus on creating jobs and promoting long-term prosperity across Canada.”
Renovations are scheduled to be completed by 2018.
