Posted on May 30, 2017
The Gouvernement du Québec is granting $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.
Mr. Laurent Lessard, Minister of Transport, Sustainable Mobility and Transport Electrification, Mr. Jean D’Amour, Minister for Maritime Affairs, and Mr. Martin Coiteux, Minister of Municipal Affairs and Land Occupancy, Minister of Public Security and Minister responsible for the Montréal region, in the presence of Ms. Sylvie Vachon, President and CEO of the Montréal Port Authority and Montréal Mayor Mr. Denis Coderre, announced this major support for development and consolidation of assets.
This financial assistance 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 Programme de soutien aux investissements dans les infrastructures de transport maritime (PSIITM – Support program for marine transportation infrastructure investments), which seeks to ensure rapid and concrete implementation of the Maritime Strategy of the Gouvernement du Québec.
The goal of the PSIITM is to favour investments in Québec’s marine freight and passenger transportation infrastructures, with a concern for competitiveness and sustainable development.
It has three components:
– Component 1: Marine and intermodal freight transportation infrastructures
– Component 2: Freight transportation pilot projects
– Component 3: Marine passenger transportation infrastructures
The program addresses companies, municipal bodies and any other organization wishing to invest in marine transportation infrastructures that have an establishment in Québec. It is in force until March 31, 2020.
The Maritime Strategy is a government initiative seeking to take advantage of Québec’s strategic geographic position to favour the creation of business opportunities related to the maritime economy. Its goal is to stimulate sustainable growth of the Québec maritime economy and encourage the creation of quality jobs in every region of Québec.
Source: Port Montreal
