Federal and Quebec governments under pressure to finance Montreal train project
MONTREAL — The federal and Quebec governments are under pressure to quickly commit funding for Montreal’s new $5.9-billion electric train project, which the Caisse de depot is promoting as a model for financing infrastructure projects.
Quebec’s pension fund manager has created an infrastructure subsidiary to oversee the construction and operation of the 67-kilometre network, which is to be ready for service by the end of 2020. Construction is set to start this summer.
“The calendar is tight but Montreal shouldn’t be condemned to a situation where it takes 20 years to build something,” Caisse CEO Michael Sabia said at a news conference Friday accompanied by Quebec’s transportation minister and Montreal’s mayor.
The Caisse is contributing $3.1 billion and the city of Montreal is committing $100 million for the project. Ottawa and the province are being asked to split the remaining $2.7-billion estimated cost.


