Canadian Infrastructure Bank Supports Montreal Port Authority Expansion With $1.6 Billion Loan

Image courtesy Montreal Port Authority

CONTRECOEUR, Canada –– The Montreal Port Authority is undertaking Canada’s largest east coast port expansion thanks to a $1.6 billion loan from the Canadian Infrastructure Bank.

The Port of Montreal is considered to be Canada’s Eastern Trade Gateway, and aims to support the Canadian government’s plan to double non-U.S. exports and bring supply chains back to Canadian businesses.

Governments, the port authority, and the private sector are partnering to get the project moving. The Government of Quebec is contributing $130 million, Transport Canada $150 million, and full financing will be repaid through autonomous revenues and the contribution of the private sector as terminal operator. Ultimately, more than 85% of infrastructure costs will be borne by the private sector.

The Canadian Infrastructure Bank’s (CIB) participation will allow the Montreal Port Authority to maintain its investment grade credit rating, and preserve cash flows for ongoing operations, by minimizing the project’s cost of capital.

In addition, once the expansion is complete, the Contrecoeur terminal (about 30 miles northeast of Montreal) will have an additional annual capacity of 1.15 million twenty-foot equivalent units (TEUs), which is about 60% of the port’s current throughput. This directly addresses long-term capacity constraints and supports future growth in container traffic.

Construction of the expansion is expected to begin in 2027. Afterward, the terminal and logistics infrastructure will be complete and the Port Authority expects to begin commercial operations in 2030.

The in-water work necessary for the project incudes dredging, quay wall construction and other infrastructure needed for vessel access, and work on this began in October 2025 through a joint venture between Aecon and Pomerleau.

The Montreal Port Authority believes the project will create thousands of jobs during construction and support hundreds of thousands of jobs linked to the supply chain. The expansion, according to the Authority, will strengthen supply chain resilience across Canada through more than $750 million in economic benefits. This amount reflects the operating impact of higher throughput because of Contrecoeur, and includes incremental activity across terminal operations, marine services, inland logistics, warehousing and related functions generated by the new terminal.

The project will leverage existing transportation infrastructure, including a Canadian National rail connection and Highway 30, thereby reducing the need for new land-based construction and limiting additional impacts on the environment.

Ehren Cory, CEO, Canada Infrastructure Bank said “Strengthening Canada’s ports to expand trade and grow the economy is a core priority for the Canada Infrastructure Bank. Our loan towards Contrecoeur supports a project of national importance—one of the largest eastern port expansions in Canadian history—and will deliver lasting benefits for Canada’s economy for decades to come.”

The Hon. Steven MacKinnon, Minister of Transport and Leader of the House of Commons, said “The global economy is changing, continuing to impact trade and affordability. That is why we are making long-term, strategic investments that will keep goods moving and costs down for Canadians. By expanding capacity at the Port of Montreal, we are strengthening our supply chains, reducing congestion and ensuring Canadian businesses can compete, grow and prosper.”

And, Nathalie Pilon, chair, Montreal Port Authority, said “Canada’s trade future depends on infrastructure that is ready before demand arrives—not after. The Contrecoeur terminal is exactly that kind of forward-looking investment. It will anchor Montreal’s role as a gateway to global markets. The MPA has worked closely with our federal and provincial partners to bring this project to fruition, and with the help of the private sector, we will deliver lasting value for thousands of companies from all across Quebec and Canada.”