This is a pivotal moment for our economy, one that will see Canada return to an era of building with ambition and determination. There is a need to build projects that have transformative power to connect our economy, diversify our products and markets, and create high-paying careers across the country.
Today, the Honourable Dominic LeBlanc, President of the King's Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy, announced one of the first major projects that are being referred to the Major Projects Office (MPO) - the Contrecoeur Container Terminal project in Montréal, Quebec.
The Port of Montreal is the largest container port in Central and Eastern Canada and a central destination for the world's largest shipping lines. It handles all types of cargo and benefits from its own railway network directly on the platforms, making it easy to ship things across the country through the two pan-Canadian rail networks. Current port activity supports some 590,000 jobs and nearly $93.5 billion in economic activity in Canada.
The proposed development at Contrecoeur would expand the current port infrastructure, adding port terminals and additional wharves, as well as other infrastructure that would increase the port's handling capacity by about 60% along the St. Lawrence River - one of Canada's critical trade arteries. It would create 8000 jobs during construction and over 1200 jobs when in operation and would provide approximately $140 million annually in national economic benefits when operational.
Investing in critical port infrastructure now will prevent significant congestion and capacity issues, which could lead to higher transportation costs for businesses and consumers. Greater port capacity builds resilience in Canada's supply chain and empowers Canadian exporters to sell their products on international markets.
This project is part of the first series of projects being advanced to the MPO for consideration. The first projects have achieved many regulatory milestones and have undertaken extensive engagement with Indigenous Peoples, provincial governments, local authorities, proponents, and other stakeholders. For these first projects, the work of the MPO will be to close final regulatory and permitting gaps, coordinate with provinces and territories, and ensure financing plans can be achieved. As well, it will recommend to the federal government to ensure proponents can make final investment decisions in the right timeframe.
