Parties
Company
CDPQ Infra
Company
Groupe NouvLR— AtkinsRéalis Grands Projets Inc.
Company
PMM
Government
Quebec Government
Company
ARTM
Company
Construction contractor (confidential)
Ehren Cory, CEO of the Canada Infrastructure Bank (CIB), alongside Prime Minister Justin Trudeau and Quebec Premier François Legault, celebrated the inauguration of Phase 1 of the Réseau express métropolitain (REM) automated light rail service. This initial segment promises to transport over 30,000 commuters daily across a 16.6-km stretch in just 18 minutes, leveraging the Samuel De Champlain Bridge to span the St. Lawrence River. The REM aims to simplify transit in Greater Montreal, contributing to the city's goal of achieving net zero emissions by 2050. The entire 67-km network is expected to be operational by 2024, with an extension to the Montréal-Trudeau International Airport by 2027.
Cory emphasized the project's significance as CIB's first and most substantial investment, highlighting its potential to alleviate congestion and reduce greenhouse gas emissions in Montreal. He noted this as part of CIB's broader portfolio, which includes nearly 30 investments under construction nationwide.
The Honourable Pablo Rodriguez, representing the federal government, underscored the REM's role in combatting climate change, supporting local labor and businesses, and enhancing the daily lives of Greater Montreal's residents by offering a more efficient, reliable, and sustainable mode of transportation. This project aligns with the government's commitment to delivering impactful investments for Quebecers.
Deal Type
OtherIndustry
InfrastructureTransaction
$ 8,000,000,000Deal Status
ActiveClosing Date