Thursday, March 28, 2024
ADVT 
National

Deal reached to finance Montreal airport rail link

Darpan News Desk The Canadian Press, 15 Apr, 2021 07:51 PM
  • Deal reached to finance Montreal airport rail link

Quebec and Ottawa have reached a $600-million deal to fund a link connecting the Montreal-Trudeau International Airport to the city's new light rail system.

The project was in jeopardy after the airport authority, which was supposed to finance the station, lost hundreds of millions of dollars in revenues after the COVID-19 pandemic crippled the airline industry.

Under the agreement, the airport authority will receive a $300-million loan from the Canada Infrastructure Bank, a $100-million investment from Transport Canada and a $100-million loan from the Quebec government.

Montreal's airport authority would be responsible for paying up to $100 million of the costs and paying back the loans from the infrastructure bank and Quebec City.

Earlier this year, the Trudeau airport said it needed help to make the project work. It has already spent $45 million on the preparatory phase of the project, which will be included in its contribution.

The first phase of the light rail system, called Reseau express metropolitain, includes 26 stations and is estimated to cost $6.5 billion The airport station will offer travellers to the city a direct link to downtown.

MORE National ARTICLES

Opposition parties outline budget priorities

Opposition parties outline budget priorities
NDP Leader Jagmeet Singh has pledged not to trigger an election regardless of what the budget has in store on April 19, a move that potentially weakens New Democrats' say in the final product.

Opposition parties outline budget priorities

Top military police officer defends investigations

Top military police officer defends investigations
Liberal and Bloc MPs shut down a similar study at the Commons defence committee on Monday that was specifically looking into allegations involving former defence chief Gen. Jonathan Vance.

Top military police officer defends investigations

China denies mistreatment of two Michaels

China denies mistreatment of two Michaels
The two Michaels were detained in December 2018 in apparent retaliation for Canada's arrest of Huawei executive Meng Wanzhou on an extradition request from the United States.

China denies mistreatment of two Michaels

How J&J and AstraZeneca differ from mRNA vaccines

How J&J and AstraZeneca differ from mRNA vaccines
It's the second COVID vaccine to be investigated for a possible link to blood clotting after several European countries temporarily halted use of the Oxford-AstraZeneca vaccine for the same reason last month.

How J&J and AstraZeneca differ from mRNA vaccines

Liberals propose right to a healthy environment

Liberals propose right to a healthy environment
The proposed amendment is included in a new bill introduced in the House of Commons today, C-28, which would strengthen The Canadian Environmental Protection Act.

Liberals propose right to a healthy environment

Health Canada investigating J&J blood clot reports

Health Canada investigating J&J blood clot reports
The clots were observed along with reduced platelet counts making the usual treatment for blood clots, the blood thinner heparin, potentially "dangerous.''

Health Canada investigating J&J blood clot reports