MoU to progress new Canadian terminal

Port of Montreal The Port of Montreal wants to build a new container terminal in Contrecoeur. Image: Port of Montreal

A Canadian port authority has signed a MoU with a financial company to help it develop a new container terminal.

Montreal Port Authority (MPA) signed the MoU with the Canada Infrastructure Bank (CIB) to progress development of a container terminal in Contrecoeur, where the port plans to expand its activities. CIB and MPA will work on the financial structuring of the proposed terminal.

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

“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.”

The financial structuring work will include planning and pre-procurement activities for the design, the construction, the financing, the operation and the maintenance of the terminal. CIB’s work could also lead to an investment in the project.

The terminal is expected to enhance the port’s infrastructure, supporting the flow of goods from container ships and increasing current and future capacity for the next decades.

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