Quebec confirmed Monday it will invest $6.8 billion in the province’s infrastructure. The money will finance more than a thousand projects in road, marine, rail and airport infrastructure between 2022 and 2024.
“That’s $2 billion more than in 2019,” said Transportation Minister François Bonnardel at a press briefing. “That’s 1,350 projects that will take shape all over the territory starting this summer.”
Of this amount, $2.7 billion will be spent on maintaining structures in good condition, and $1.5 billion will be spent on roadways.
Montreal will receive just over $1 billion of the total. This represents a “colossal” sum for the city, said the minister responsible for the Montreal region, Chantal Rouleau, who attended the press conference.
The announcement will affect many highway infrastructures in the greater Montreal area. Rouleau assured that Mobilité Montréal’s main partners — the government, the cities and the public transit companies — will try to minimize the impact of the work on motorists.
“Obviously, when we talk about construction, we also talk about mitigation measures,” said Rouleau. “Sometimes we’ll talk about a bypass. Sometimes we’ll talk about increasing the bus network.”
EASTERN REM TO MOVE FORWARD
Rouleau assured that the REM project would go ahead, while Montreal Mayor Valérie Plante and the Caisse de dépôt et placement du Québec (CDPQ) Infra are passing the buck on the delayed project.
The subsidiary of the CDPQ announced last Thursday that it is delaying the final presentation of the project to the Bureau d’audiences publiques sur l’environnement (BAPE), which was scheduled for this spring, in order to obtain better support from its partners, including the City of Montreal. On Friday, Plante asked CDPQ Infra to say “clearly and publicly” whether it wants the city at the table or not.
Despite the delays, Rouleau says abandoning the project is not an option.
“The eastern REM must happen, the eastern REM will happen.”
CDPQ Infra, the Quebec government and the City of Montreal are working together to determine “the best mechanism to get it done right,” Rouleau said.
— This report was first published in French by The Canadian Press on March 21, 2022.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
