CIB commits C$300m for Contrecoeur container terminal

Canada Infrastructure Bank(CIB) is supporting the expansion of the largest port in Eastern Canada with a commitment of up to C$300 million ($225 million) in financing to the Port of Montreal's project to build a new container terminal in Contrecoeur. The announcement follows the signing of a memorandum of understanding between the CIB and the Port last August to develop the project's financial structure. CIB's financial commitment is a provision of long-term capital to bridge the gap between periods of construction, revenue growth and achieving profitability of the container terminal.