MONTREAL - The Canadian Infrastructure Bank is pledging up to $300 million in financing for a new container terminal project at the Port of Montreal, though regulatory approval is still pending. The project’s total cost estimate runs between $750 million and $950 million, depending on how much of the site a future private operator chooses to develop. Freight traffic at Canada’s second-largest port rose nine per cent in 2018 to the equivalent of more than 1.6 million 20-foot containers for the fifth straight year of record volumes, prompting concerns the docks will be overloaded by 2022. The Contrecoeur terminal would add capacity of 1.15 million containers. This report by The Canadian Press was first published Dec. 4, 2019.

Source: thestar December 04, 2019 21:33 UTC