Canada Infrastructure Bank agreed with CDPQ Infra to provide a CAD 1.28 billion (EUR 846.6 million) loan which completes the project’s CAD 6.3 billion (EUR 4.1 billion) financing for Réseau express métropolitain project (REM) in Montréal.
With this loan, the REM’s financing is fully completed. the project is financed by CDPQ Infra with CAD 2.95 billion (EUR 1.95 billion), Government of Québec, with CAD 1.28 billion (EUR 846.6 million), Hydro- Québec with CAD 295 million (EUR 195 million), ARTM, with CAD 512 million (EUR 338.6 million) and Canada Infrastructure Bank with a CAD 1.28 billion financing.
“We are pleased to participate in the funding of this important public infrastructure project,” said Pierre Lavallée, President and CEO of Canada Infrastructure Bank.
REM project envisages the construction of a 67-km automated metro network and 26 stations in Greater Montréal. Construction works began in April 2018 and the first trains are scheduled to run in the summer of 2021.
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