The Port of Montreal hails the Quebec government's investments in the port and marine industry

MONTREAL, March 27, 2015 /CNW Telbec/ - The Montreal Port Authority (MPA) hails the Quebec government's commitment to solidly support the marine industry by announcing an investment of more than $1.5 billion in the Quebec maritime strategy and for its intention to promote the implementation of logistics hubs. For the MPA, concrete investments were announced: $75 million to improve direct road access to the port and $20 million towards the restoration of Alexandra Pier and the Iberville Passenger Terminal for cruise passengers.

"For a port, the flow of transportation is a measure of efficiency and competitiveness. That makes optimizing road access mission-critical," said Sylvie Vachon, President and CEO of the Montreal Port Authority. "In this budget, the government is providing investments that will make it possible for trucks to exit more efficiently to the upper road network and decongest the local road network. Besides, any logistics activity that makes shipping lines need to come to the port to pick up or deliver containers is a win for us."

The government of Quebec's involvement, through the provision of $20 million in the 2015-2016 budget, in the project to restore Alexandra Pier and the passenger terminal is an important milestone in carrying out this structuring project for the future of Montreal and the Quebec tourism industry.

"Having a new passenger terminal bolsters the development of the tourism industry and promotes major economic benefits and impacts for Montreal and the various levels of government, while giving citizens quality access to the river and creating an emblematic gateway worthy of Montreal," added Ms. Vachon.

The Quebec government's commitment is in addition to backing by the City of Montreal, which committed to a $15-million contribution when it filed its three-year capital works program for 2015-2017. The MPA will continue to work on completing the financing structure, a necessary condition for optimal restoration of the passenger terminal.

About the Port of Montreal

Operated by the Montreal Port Authority (MPA), the Port of Montreal is a major diversified transshipment centre that handles all types of goods – containerized and non-containerized cargo, liquid bulk and dry bulk. It is a leading container port served by the largest container shipping lines in the world.

The Port of Montreal handled 1,402,393 TEUs (20-foot equivalent units) in 2014, representing 12,575,069 tonnes of cargo. The port also handled 9,246,741 tonnes of liquid bulk, and 8,433,434 tonnes of dry bulk, including 4,075,879 tonnes of grain. The total des volume of goods handled in 2014 amounted to 30,445,984 million tonnes.

The Port of Montreal has its own railway network directly dockside. It is connected to the two national rail networks and a highway system. The port operates a passenger terminal that welcomed 71,044 passengers and crew members in 2014. All other terminals are run by private stevedoring firms.

Port activity supports 16,000 jobs and generates $2.1 billion in economic spin-offs annually.

SOURCE Montreal Port Authority

Montreal Port Authority: Sophie Roux, Vice-President, Public Affairs, [email protected], T: 514 283-7050, www.port-montreal.com