C$40 million to increase Montreal Port Authority productivity and competitiveness
The Government of Québec is granting C$40 million in financial assistance to the Montréal Port Authority in order to upgrade its infrastructures, which will help increase productivity and maintain the competitiveness of the port, the second largest in Canada.
This financial assistance targets development and consolidation of assets. It will enable Québec and Canadian shippers to benefit, in particular, from gains in terms of terminal capacity and fluidity and, generally speaking, from a better quality-price ratio offered by the port facilities.
This financial support is granted under Component 1 of the province’s support program for marine transportation infrastructure, which seeks to ensure rapid and concrete implementation of the Maritime Strategy of the Québec government.
“The Port of Montréal plays an especially strategic role in the Québec economy,” said Laurent Lessard, Minister of Transport, Sustainable Mobility and Transport Electrification. “Our government is aware of the necessity of investing to maintain and improve the port’s competitiveness in relation to its international competitors. We therefore saw this project as a priority to enable the port to consolidate and develop its different business niches and thus contribute to make marine transportation a lever of economic development in Québec.”