Montreal Port Expansion Cost Rises to C$2.3 Billion

The cost of the new Contrecoeur terminal at the Port of Montreal has risen significantly to C$2.3 billion ($1.7 billion), according to Canadian Cabinet minister Dominic LeBlanc. The project, which aims to increase the port's container-handling capacity by over 50%, has seen its budget climb due to updated standards including electrification and low-carbon equipment, reflecting efforts to make the terminal carbon neutral. While initial estimates were under $1 billion pre-pandemic and later rose to C$1.6 billion, the current figure includes contributions from private equity investors as well as federal and provincial governments. The project is a mix of public and private funding and is considered vital to Canada's national interest and economic growth, especially in response to U.S. tariffs. The expansion has been added to the federal Major Projects Office list to expedite its completion by 2030, but additional federal funding is still under negotiation. Officials emphasize that the budget is still being finalized and may fluctuate due to inflation and business decisions aimed at optimizing environmental sustainability.