Improvements to the Port of Montreal: Increasing capacity at the Port of Montreal will strengthen the city’s business environment

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Added on 20 January 2015 in Press releases

Montréal, January 20, 2015 ‒ The Board of Trade of Metropolitan Montreal is delighted with the investment announced this morning by the Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, the Honourable Denis Lebel, who was accompanied by the Mayor of Montréal and President of the Communauté métropolitaine de Montréal, Denis Coderre, along with Sylvie Vachon, President and CEO of the Montreal Port Authority. An investment of $132 million will be made to increase the Port of Montreal’s capacity, $43.6 million of which will come from the federal government

“The Port of Montreal is a strategic asset for the city and its businesses, generating annual economic benefits of $1.5 billion,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “The investment will allow the port to increase the volume of containers it handles as we prepare for the Comprehensive Economic and Trade Agreement between Canada and the European Union to take effect. This investment will reinforce the city’s logistics chain, the foundation of our position as a North American hub for freight transport for the eastern part of the continent.”

“We applaud the federal government for making its first announcement of funding under the National Infrastructure Component of the New Building Canada Plan the completion of part of the work in the Port of Montreal,” Michel Leblanc said. “This announcement echoes the recommendations made by the Board of Trade during prebudget consultations. Clearly, the federal government understands the important role the Port of Montreal plays in responding to the anticipated increase in trade between Canada and the rest of the world.”

Alexandra Pier passenger terminal
“We are pleased to see that the federal government has begun studying another structuring project for Montréal: building a new passenger terminal on the Alexandra Pier,” Michel Leblanc said. “Last year the Board of Trade supported the project proposed by the Montreal Port Authority and backed by the Ville de Montréal for a new passenger terminal in time for Montréal’s 375th anniversary in 2017.”

About the Board of Trade of Metropolitan Montreal

The Board of Trade of Metropolitan Montreal has over 7,000 members. Its mission is to be the voice of Montréal’s business community and to promote the city’s prosperity. It is involved in key areas of economic development, advocating a philosophy of action based on engagement, credibility, proactivity, collaboration and innovation. The Board of Trade also offers a range of specialized services to individuals and to business of all sizes to support them in their growth at home and abroad.

 

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Source:
Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042

mllambias@ccmm.qc.ca
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