Reversal and increased volume of Enbridge's Line 9B - Chamber of Commerce of Eastern Montreal very satisfied with NEB's approval of Enbridge project

MONTREAL, March 7, 2014 /CNW Telbec/ - The Chamber of Commerce of Eastern Montreal (CCEM), which represents more than 1,200 members, is very satisfied with the decision announced yesterday by the National Energy Board (NEB) on the proposed reversal of Enbridge's Line 9B and its increased volume, which will supply the Montreal and Quebec oil and petrochemical sectors with oil from the West.

"This project was very important and strategic for us, as it will help ensure the sustainability of an industry that remains a key driver of growth in our local economy, and in that of Quebec. With this project, our businesses will finally be able to procure crude oil from more secure and less expensive sources, thereby making our refineries and companies more competitive," said Isabelle Foisy, CEO, of the CCEM.

"We're pleased with this decision for two reasons, because it strengthens the approximately 7,500 direct and indirect jobs that the industry provides to people who live for the most part in our area and have been hard hit in recent decades by a series of closures, the most recent being Shell in 2010," she said.

For the CCEM, the NEB decision could not have been more welcome and timely. It not only ensures the performance of an essential industry in the Montreal and Quebec economy, but will also lead to many investments downstream, particularly in the Montreal and Quebec City regions.

"Consolidating this industry offers great opportunities for further growth in our petrochemical sector, whose products are an essential part of our daily lives," concluded Ms. Foisy.

About the CCEM

The mission of the Chamber of Commerce of Eastern Montreal is to defend and promote the economic and social interests of the 30,000 businesses on its territory. With its 1,200 members, the CCEM is the largest association of business people in the east end of the city; it exerts its leadership to engage the active participation of socioeconomic stakeholders in its community. The CCEM's large territory extends east from St. Laurent Blvd to the tip of the island of Montreal and from Rivière des Prairies to the Saint Lawrence River.

SOURCE: Chambre de commerce de l'est de Montréal (CCEM)

Frédérique Naud
Communications coordinator
Chamber of Commerce of Eastern Montreal
514-354-5378, ext. 222