Termont Montréal Inc. will be the future operator of the Viau container terminal at the Port of Montreal.
Longstanding partners, the Port of Montreal and Termont Terminal Inc. signed a long-term lease on March 19, under which the private company Termont Montréal Inc. will invest $42 million in the initial phase of the terminal project.
If container growth continues, Termont Montréal Inc. will invest an additional $30 million towards the project’s second phase.
This agreement was announced two days ago by the Montreal Port Authority’s President and CEO, Sylvie Vachon, in a speech to the Board of Trade of Metropolitan Montreal.
Construction of the new terminal will get underway this summer, and is scheduled to open in the fall of 2016. When fully operational, the new Viau terminal will generate 2,500 direct and indirect jobs, along with $340 million in economic benefits.
Its handling capacity will be 600,000 TEUs (20-foot equivalent units), bringing the Port of Montreal’s total container-handling capacity to 2.1 million TEUs.
This project is one of three components of an extensive project to improve the Port of Montreal’s infrastructure.