Government of Canada commits half of a $10 million investment to expand and renovate the Port of Montreal’s Cast Terminal, meeting the needs of marine supply carriers, increase economic viability and create jobs.

"With this third Infrastructure Stimulus Fund investment in the Port of Montreal, we are investing in the economic futures of Montreal, of Quebec, and of Canada," said The Honourable Denis Lebel, Minister of State for the Economic Development Agency of Canada for the Regions of Quebec.

"Supporting Port of Montreal projects ensure job creation for people here, helps businesses that use this port to ship and receive cargo to become more competitive, and is just one more example of what our government is doing to stimulate our economy and secure a better future for us all."

The government’s $5.1 million contribution is covered under the Infrastructure Stimulus Fund. The Montreal Port Authority will fund the remaining costs.

By maximizing capacity of the Cast Terminal with docking space for more ships, investing in handling equipment and overall infrastructure optimization, the Port of Montreal will heighten the city and region’s economic competiveness.

"This new investment in our infrastructure projects by the federal government is excellent news, particularly given that since the start of the year, the number of containers handled at the Port of Montreal has increased steadily,” Sylvie Vachon, president and CEO of the Montreal Port Authority.

“The Port is a leader among the container ports serving the North Atlantic, and its markets are diversifying rapidly. In 2009, over one in five containers handled at the Port originated from or were headed for final destinations in Latin America, Southeast Asia, the Indian subcontinent or the Middle East. The investment announced today will help meet this growing demand."

Source: Government of Canada