CANADA's Montreal Port Authority (MPA) and Canada Infrastructure Bank (CIB) have inked a memorandum of understanding that aims to advance the development of a new container terminal in Contrecoeur.
The new terminal in Contrecoeur would enhance the port's infrastructure that supports the flow of goods from containerships and increases current and future capacity for the coming decades, reported Seatrade Maritime News, Colchester, UK.
The objective of the new container terminal is to enable importers and exporters to get products to market in a timely fashion and to support Canada's economic growth and international trade.
"This commitment by the CIB is a key milestone in the progress of our project towards its completion. This collaboration with this new partner confirms the national importance of our project, whose purpose is to support the growth of international trade for Canada," said MPA CEO Sylvie Vachon.
The port of Montreal is the only container port in the province of Quebec and the largest in eastern Canada. In 2018, the port handled 1.7 million TEU.