55403
52134

Business  

Montreal expanding port

The Montreal Port Authority says it has crossed a key milestone in its plans to grow its container-handling capacity in order to stay competitive with large American ports.

The authority says it has submitted its plans to the Canadian Environmental Assessment Agency and will be part of a public consultation, with information sessions beginning at the end of the month.

It says for several years it has been planning a container terminal on its land in Contrecoeur on Montreal’s South Shore, a land reserve it acquired between 1988 and 1992.

The MPA says this is a strategic location for container handling because of its favourable geometry, nearby rail and road networks and the proximity of the markets it serves.

The MPA says the project submitted to the assessment agency will make it possible, when completed, for the port to handle 1.14 million TEUs (twenty-foot equivalent units) per year.

Project lead Daniel Dagenais says the additional port space will allow the MPA to make the most of the economic and commercial opportunities arising from emerging markets, the Canada-European Union Comprehensive Economic and Trade Agreement and the Quebec Maritime Strategy.

Melanie Nadeau, director of communications for the Montreal Port Authority, says the project's value is estimated at $750 million.



More Business News

Data from CryptoCompare
Recent Trending
Okanagan Oldies
55849
Castanet Proud Member of RTNDA Canada
54788
Press Room
49335
55504