Government of Canada Continues to Invest in the Future of the Port of Montreal

(MarketWire)

The Honourable Denis Lebel, Minister of State for the Economic Development Agency of Canada for the Regions of Quebec, announced today [Thursday] that the Government of Canada will be investing in a project to optimize infrastructure at the Port of Montreal, which will have a positive impact on the economic development of the region in the short, medium and long terms.

This investment will be used to improve the electrical facilities, control equipment and network management, so as to increase access point capacity along Hydro-Quebec’s network in the Port of Montreal.

The Government of Canada will provide up to $4,648,500 for this project under the Infrastructure Stimulus Fund. The Montreal Port Authority will cover the remaining costs of the project, which is estimated to total $9,297,000.

“With this second Infrastructure Stimulus Fund investment in the Port of Montreal, our Government is investing in the economic futures of Quebec and of Canada,” said Minister Lebel. “As we begin the second phase of Canada’s Economic Action Plan, our priority will be to continue the rapid implementation of projects such as this one. At the same time, we look forward to meeting future challenges, including restoring the fiscal balance once our economy is fully recovered, as well as building a solid foundation for our economic future.”