Canadian Design and Construction Report staff writer
The Canada Infrastructure Bank (CIB) will provide a $1.2-billion loan to the Montreal Port Authority for the Contrecœur expansion project expected to create about 4,000 jobs per year during construction.
Last week’s loan announcement is being called a critical step for the project, establishing a solid financial foundation and ensuring the continuation of construction.
The project is being built through a strong partnership between governments and the private sector, which will cover more than 85 per cent of construction costs. The Government of Québec has contributed $130 million and Transport Canada will pay $150 million. The full financing will be repaid through independent revenues as well as contributions from the private sector as terminal operator.
Construction timeline:
- 2026: In-water works, including construction of quay walls, and infrastructure required for vessel access and operations, carried out by a joint venture between Pomerleau and Aecon.
- 2027: Construction of terminal and logistics infrastructure, including the development of the intermodal yard, terminal construction, and installation of ship-loading equipment, on a site located approximately 40 kilometres northeast of Montreal.
- 2030: Commercial operations begin.
Recognized by the federal government as a project of national interest, the Contrecœur terminal will improve Canada’s container handling capacity through its eastern gateway. It will contribute to trade diversification, economic resilience, and support hundreds of thousands of jobs linked to the supply chain.
Use of existing infrastructure, including Highway 30 and CN rail connections, limiting new land construction and environmental impacts.
A terminal designed to minimize its environmental footprint and compliant with the 388 binding conditions set by the Impact Assessment Agency of Canada.
