The Romaine hydroelectric complex: A project to jumpstart the development of our metropolis

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Added on 13 May 2009 in Press releases

Communiqué

The Romaine hydroelectric complex:
A project to jumpstart the development of our metropolis

Montréal, May 13, 2009 – The Board of Trade of Metropolitan Montreal strongly applauds the launch of the largest construction project in Canada announced today by Quebec Premier Jean Charest.

“With this investment of some $6.5 billion, which will generate economic spinoffs of almost $3.5 billion, the metropolis and the entire province have been endowed with a powerful engine for wealth creation for decades to come,” declared Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal.

“In carrying out this hydroelectric project, Quebec is choosing to develop one of the essential resources that give it a true comparative advantage in North America. There is no doubt that during this period of re-engineering global energy needs, such an investment will strengthen our economy and enhance Quebec's appeal among companies wishing to use clean energy. We also note the significant complementarity that will mobilize companies in various Quebec regions and in the metropolis to carry out this work,” added Leblanc.

“This strategic project will lay the foundations for the sustained development of all of Quebec by ensuring a steady supply of hydroelectricity. By exporting the surplus, we will generate indispensable revenue sources that will facilitate investments in other economic sectors and relieve the fiscal pressures on taxpayers to maintain the health-care system and strengthen the education system. We also urge the government to consider using the additional income to boost its investments in infrastructure and increase the operating budgets of Montréal and Quebec's other major cities,” concluded Leblanc.

The Board of Trade of Metropolitan Montreal has some 7,000 members. Its primary mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity and competitiveness. The Board of Trade is Quebec's leading private economic development organization.

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Source:
Sylvie Paquette
Coordinator, Media relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4015
sylvie.paquette@ccmm.qc.ca