The Port of Montreal is a strategic asset for the city. It is a catalyst of trade for all of our industries. In 2017, it had record results with merchandise volume exceeding 38 million tons. The Montreal Port Authority (MPA) forecasts that this volume will increase 60% by 2030. To support the growth of local companies and their exports and to meet significant demand, the Port has to invest.
Sylvie Vachon, president and CEO of the MPA, took advantage of her appearance before the Chamber on May 14 to present her ambitious vision for the Port to the business community. Here are three areas for strategic development that will ensure the future of this economic driver.
Optimize Port of Montreal infrastructures
On the occasion of Sylvie Vachon’s appearance before the Chamber, the Honourable Marc Garneau, Canada’s Minister of Transport, announced a $45.8 million investment to extend L’Assomption Blvd. This investment was welcome news to Ms. Vachon, who reiterated the importance of this access road to allow trucks to circulate more easily into and out of the Port of Montreal. Sylvie Vachon added that in recent years, the MPA carried out many projects to promote growth, including the Viau container terminal and the new Port of Montreal cruise terminal. The recent coming into effect of the Comprehensive Economic and Trade Agreement (CETA) and the signature of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPATPP) foretells a potential increase in trade in goods in Greater Montréal. The MPA will therefore invest to optimize its intermodal transportation network, particularly in the rail interchange zone.
Expand the Contrecoeur port terminal
The Port will reach its full capacity for handling containers in the next five years. This is why the MPA has spent decades preparing for the expansion of the Contrecoeur port terminal. This $650 million project, which will create 1,000 permanent jobs, is based on real needs and will generate growth in the transportation and logistics sector in the metropolitan area.
Bank on innovation
The MPA has completed the digital shift, and the Port is now a member of chainPORT, an initiative to integrate new intelligent port technologies. Highly involved in supporting local innovation, the MPA is a stakeholder in the SCALE.AI innovation supercluster, a project that has the potential to revolutionize Canadian supply chains through artificial intelligence. Furthermore, with a view to sustainable development, the Port put in place a new supply solution for liquefied natural gas as marine fuel. Having this option enables ships to reduce their environmental emissions.
To pave the way for the future of the Port of Montreal, the MPA is leveraging its strategic assets to act as a hub for shipping goods and a leading destination for cruise ships. The MPA’s growth-generating projects will help maintain the Port’s competitiveness and the city’s status as a strategic gateway to North America.
To find out more about the expansion of the Contrecoeur port, read our blog post and brief on the project