Ranking for 2017: 8
Industry Sector: Transit
Specific Sector: LRT
Range: $5 billion +
Project Value: $5,900,000,000
Government Funds Involved:
Funding Source: P3
Location: Montréal, Quebec
Estimated End Date of Substantial Completion: 2020
The REM will be a new integrated network linking downtown Montreal, South Shore, West Island, North Shore, and the airport. It will be the third largest automated transportation systems in the world after Dubai (80 kilometres) and Vancouver (68 kilometres), and just ahead of Singapore (65 kilometres).
For the metropolitan area, the REM also represents the largest public transportation infrastructure since the Montreal metro, inaugurated in 1966.
Combined with existing transportation networks (metro, trains and buses), the REM opens a new era of public transit development in the Greater Montreal area:
• 27 stations—67 kilometres—20 hours a day—7 days a week
• This constitutes Québec’s first “public-public” partnership project
The new network represents an investment of approximately $5.9 billion. La Caisse is willing to commit $3.1 billion to the project. In Finance Minister Bill Morneau’s Fall Economic Update released on November 1, 2016, the Minister suggested that projects like REM would be the type of project that would be eligible for the new federal infrastructure bank. However, as of press time, the province had yet to make a firm commitment to providing funding for the project.
Should funding be acquired in early 2017, the project could be completed as early as 2020.