Image Credit: CDPQ Infra
Ranking for 2019: 8
Industry Sector: Transit
Specific Sector: LRT
Range: $5 billion +
Project Value: $6,300,000,000
Government Funds Involved: In 2017, both the provincial and federal governments pledged $1.283 billion to the project. The federal government pledge has transformed into a 15-year senior secured loan from the Canada Infrastructure Bank. ARTM and Hydro Québec have also contributed to the project, with $512 million and $295 million respectively being provided for the project. CDPQ Infra has committed $2.95 billion to the project.
Funding Source: P3
Location: Montréal, Quebec
Estimated End Date of Substantial Completion: 2020
LEED: N/A
The Réseau express metropolitain (REM) will be a new integrated network linking downtown Montreal, South Shore, West Island, North Shore, and the airport. Once completed, the REM will be the fourth largest automated transportation system in the world after Singapore (82 km), Dubai (80 km), and Vancouver (68 km). 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—seven days a week
• This constitutes Québec’s first “public-public” partnership project
Construction of the line began in April of 2018, following the contract award two months earlier.
This project also represents the first in Canada that has received an investment through the Canada Infrastructure Bank, following receipt of a 15-year, $1.283-billion loan in August.
