The Port of Montreal’s Contrecoeur Expansion Costs Soar
The Port of Montreal’s ambitious expansion project in Contrecoeur is facing a significant cost increase even before construction kicks off.
Originally projected to cost under $1 billion pre-pandemic, the estimated price tag had already risen to $1.2 billion by 2023, according to a financial update by the Montreal Port Authority.
In a more recent update, Premier François Legault put the project’s cost at $1.6 billion, but Intergovernmental Affairs Minister Dominic LeBlanc revealed in Edmonton that Ottawa now views it as a $2.3-billion endeavor, marking a nearly 44% increase from the previous year.
LeBlanc emphasized the federal government’s commitment to the project, stating that discussions are underway with the Port of Montreal to finalize the federal contribution. He assured that the federal government stands behind the Contrecoeur expansion and will ensure its completion by 2030.
Julien Beaudry, from the Port of Montreal, noted that costs are escalating due to additional investments like electrification to promote carbon neutrality. Official figures are yet to be confirmed, pending the completion of negotiations with private partners.
While being added to the Major Projects Office list provides support, LeBlanc clarified that it doesn’t guarantee new funding. Decisions on funding will be made by the government as needed.
The Contrecoeur expansion project is set to be finished by 2030, aiming to optimize efficiency and environmental friendliness.
Keyphrase: Port of Montreal Expansion
