“This initiative by the CMM and its Government of Quebec partners confirms the status of Montreal and its port as a transportation hub. Creating this industrial cluster fosters the inception of promising projects for Greater Montreal,” said Vachon. Port activity supports 18,200 jobs and generates $1.5 billion in economic spin-offs per year.
On the Port of Montreal’s capacity to meet global market demands and the needs of Port of Montreal clients, Vachon pointed out that investment projects currently underway on Port of Montreal territory will make it possible to raise the annual maximum container handling capacity from 1.6 million to 2 million TEU by 2016. At the same time, in 2010 the Montreal Port Authority completed technical studies on its Contrecoeur site, where the port could expand when the time comes. “We still have to validate several parameters, including the matter of funding that we’re now looking into,” stated Vachon. This project could bring the Port of Montreal’s maximum container capacity to more than 3 million TEU by 2018, close to double its current capacity.