Morgan Stanley Infrastructure Partners has sold Montreal Gateway Terminals (MGT), the leading cargo container facility at Canada’s Port of Montreal, to a consortium that says it’s committed to promoting the port as an international hub.
Led by Fiera Axium Infrastructure Inc. and composed of Fiera Axium Infrastructure Canada II L.P., Desjardins Group, via its insurance subsidiaries and its Pension Plan, Manulife, Fonds de solidarité FTQ and Industrial Alliance, the consortium will focus on improving capacity, efficiency and technology at the terminals.
Michael Fratianni, CFO, told Port Strategy: “MGT is an essential infrastructure asset for the local and national economy, benefitting from a long-term lease agreement with the Port of Montreal, extensive rail and road connectivity to key North American markets, and long-standing relationships with key clients.”
“The consortium intends to expand the terminals’ capacity to support volume growth and will continually invest in the facilities to maintain the current asset base and ensure that the equipment and infrastructure meets the standards required to offer premium service to MGT’s clients,” he added.
Montreal Gateway Terminals is the largest container terminal operator at the Port of Montreal, operating two of the Port’s three international terminals (Racine and Cast) and servicing seven global shipping lines.
In 2014, MGT handled 800,000 teu, representing 58% of all containers handled at the port, which is the second largest container port in Canada and is strategically located to support trade between Europe, Canada, and large US population centres. I
The port benefits from its proximity to major European ports, as well as an extensive railway and highway network connecting Montreal to key North American markets. In addition, its direct routes with transhipment ports located near the Suez and Panama canals means the port has become a competitive solution for traffic between Southeast Asia, the Middle-East and Latin America.
