The estimated cost to build a new terminal on the St. Lawrence River have risen by roughly 50 per cent over the $950-million maximum calculated in 2019, say sources
The rapid rise in inflation and higher construction costs have triggered a dramatic jump in the price tag for the Port of Montreal’s container terminal expansion project in Contrecoeur, a key piece of supply chain infrastructure for Quebec, Ontario and the U.S. Midwest.
An agreement from the federal government is seen by port officials and industry groups as imperative to finalize funding for the project and begin Nadine Ramadan, spokesperson for Omar Alghabra, Canada’s Transport Minister, said the minister spoke Tuesday with Port Authority chief executive officer Martin Imbleau and that the minister is “committed to resolving this and getting a solution for the terminal project.” She declined to say why a financing deal hasn’t been concluded.
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