Port of Montreal Plans $132m Expansion
Ottawa government has announced a multimillion-dollar investment for the Port of Montreal, meant to facilitate exports following a new trade deal with Europe.
The Port will receive a $132-million makeover in anticipation of an increase in exports. Ottawa will contribute $43.7 million to the project. The remainder of the money will come from the port itself.
Federal Infrastructure Minister Denis Lebel said the expansion project was "directly linked" to the new trade deal with Europe. He hoped that the Port of Montreal becomes even more of a regional hub and that trade with the EU increases exponentially.
The fund will be used toward deepening mooring posts, facilitating the circulation of trucks and increasing the port’s capacity to handle containers. This development will create 2,500 new jobs.
The project will also improve road access, offering a better flow of truck traffic. Every day, there are 2,500 trucks coming in and out of the port, making it the second busiest port in Canada after Vancouver and the fifth-largest on the eastern North American coastline.
Renovations are scheduled to be completed by 2018.
