Canada & Quebec to construct $600 million REM station at Montreal-Trudeau International Airport
Since the COVID-19 pandemic has had an unprecedented impact on all areas of society, infrastructure projects will be crucial to the economic recovery. These projects will create good paying jobs, grow the economy, improve the daily lives of Quebecers and all Canadians, and build a better tomorrow. The construction of the Réseau express métropolitain (REM) station at the Montréal-Trudeau International Airport will help reduce traffic congestion and improve accessibility and connectivity to the airport by offering an environmentally sustainable link between downtown Montréal and the airport.
Today, the Minister of Transport, the Honourable Omar Alghabra, the Minister of Infrastructure and Communities, the Honourable Catherine McKenna, the Leader of the Government in the House of Commons and Quebec Lieutenant, the Honourable Pablo Rodriguez, the Minister of Economy and Innovation, Mr. Pierre Fitzgibbon, the Minister for Transport and Minister responsible for the Metropolis and the Montréal Region, Ms. Chantal Rouleau, and the Chief Executive Officer of the Canada Infrastructure Bank, Mr. Ehren Cory, announced a $500 million financial package to support Aéroports de Montréal and to enable the construction of the REM station at the Montréal-Trudeau International Airport.
The construction of the REM station, an estimated $600 million project, will be led by Aéroports de Montréal, with financial contribution from the following:
Transport Canada who is investing up to $100 million in funding as part of a program to support large airports, as announced in the Fall Economic Statement of November 2020;
Gouvernement du Québec, through Investissement Québec, who is providing a loan of up to $100 million to Aéroports de Montréal;
Canada Infrastructure Bank who is providing a loan of up to $300 million to build on its previous $1.3 billion investment in the REM; and
Aéroports de Montréal who is providing up to $100 million in addition to reimbursing the loans granted by the Canada Infrastructure Bank and the Quebec government.
The Montréal-Trudeau International Airport plays an important role in Montréal's economy and the lives of Montrealers. The station at this airport has been a cornerstone of the REM vision since the inception of the project. This project will allow seamless connectivity between the airport and Montréal's transit system, and will benefit the great metropolitan region by improving mobility, connectivity and contributing to Quebec's and the rest of Canada's effort to address the threat of climate change.
"As Canada looks ahead to economic recovery, transportation and tourism will be vital while we build back better. Our government clearly stated its commitment to ensuring that critical infrastructure projects at Canadian airports was a priority. The funding announced today will ensure that Montrealers and all Canadians benefit from an efficient and green connectivity to the Montréal-Trudeau International Airport."
The Honourable Omar Alghabra Minister of Transport
"Today's announcement that the new Réseau express métropolitain station at the Montréal-Trudeau International Airport will be able go ahead with support from the federal government, the province, and a $300 million investment from the Canada Infrastructure Bank demonstrates our commitment to this critical Montreal project and to the importance of integrating the airport to the broader public transit system. We look forward to continued investments in public transit in Quebec that reduce congestion, create jobs and economic growth, tackle climate change and improve the lives of Quebecers."
The Honourable Catherine McKenna Minister of Infrastructure and Communities
"Today, through the collaboration between the governments of Canada and, Quebec, and the Canada Infrastructure Bank, we are announcing that the Réseau express métropolitain station will be built at the Montréal-Trudeau International Airport. Just as we have been doing from the beginning, we will continue to work with Quebec and our partners to support Quebeckers."
The Honourable Pablo Rodriguez Leader of the Government in the House of Commons and Quebec Lieutenant
"The agreement between the governments of Quebec and Canada, and the Canada Infrastructure Bank, is the realization of a strategic project for Montreal and will make it possible for the Montreal-Trudeau International Airport to rely on modern infrastructures. I believe that all Montrealers, Quebeckers and travellers are looking forward to using the new REM station at this airport, which is in fact a window on all of Quebec."
Mr. Pierre Fitzgibbon Minister of Economy and Innovation
"In the context of the pandemic, which had a major impact on airports, the contribution of the Government of Quebec and the other financial partners, is essential. Montréal, just like any other big city, should have its own intermodal mass transit network. This station and the rest of the REM roll-out clearly represents the strong links of public transportation system in the greater Montréal region. This is why we believe that a direct access to the passenger terminal through the REM, and therefore the construction of this station, is crucial."
Ms. Chantal Rouleau Minister for Transport and Minister responsible for the Metropolis and the Montréal Region
"The Canada Infrastructure Bank is proud to be a key investor in the REM project, and to contribute in a bigger way to connect Montréal's citizens to their airport. Montréal, and Quebec, have ambitious plans for green and sustainable infrastructure and the Canada Infrastructure Bank looks forward to being a key partner in transit and more. The opportunity is to accelerate projects that both support economic growth and protect the environment. Together, we can have real impact in building net-zero communities and sustainable, world-class cities."
Mr. Ehren Cory Chief Executive Officer Canada Infrastructure Bank
"By responding to the request for loan financing, the Canada Infrastructure Bank and the Québec government – along with the Canadian government through its generous direct contribution – have demonstrated exceptional solidarity in this matter. We can now finally say that the REM will be coming to Montréal–Trudeau International Airport. Their financial contribution was essential for the construction of our station. For Aéroports de Montréal, it was unimaginable to pass up on a project that will provide a reliable and sustainable public transit option serving the Montréal–Trudeau International Airport, as is the case in all major cities around the world. The airport station is highly strategic for the REM network since it will not only enhance Montréal's competitiveness but also ensure the attractiveness of the airport for passengers and employees in the community. The REM project is also a structuring project that will benefit the entire Québec community. ."
Mr. Philippe Rainville, President and Chief Executive Officer Aéroports de Montréal
Transport Canada is investing up to $100 million for the Réseau express métropolitain (REM) station.
Gouvernement du Québec, through Investissement Québec, is providing a loan of up to $100 million to Aéroports de Montréal for the construction of the REM station at Montréal-Trudeau International Airport. Financial assistance is delivered through the Fonds du développement économique.
Canada Infrastructure Bank is providing a loan of up to $300 million to build on its previous $1.3 billion investment in the REM. The Canada Infrastructure Bank is investing $35 billion new revenue-generating infrastructure projects which are in the public interest, increase economic growth and take action on climate change. The Canada Infrastructure Bank is getting more infrastructure built by partnering with private and institutional investors, and governments across Canada.
Aéroports de Montréal is investing up to $100 million in addition to reimbursing the loans granted by the Canada Infrastructure Bank and the Quebec government. Aéroports de Montréal has already incurred $45 million in costs during the preparatory phase of the station's construction; these costs are considered part of the organization's contribution. With the REM station, Montréal-Trudeau International Airport will join the ranks of major international airports that have access to a sustainable and rapid connection with their city centre.
The REM is a light rail transit network currently under construction in Greater Montréal. REM will consist of 26 stations across the Greater Montréal area and will provide fast and direct service between downtown Montréal and the Montréal–Trudeau International Airport.
SOURCE Transport Canada