"Are there any discussions about other projects of this kind domestically or internationally? The answer is yes."
Quebec public pension managers interested in bidding on other transportation projects Montreal's Réseau express metropolitain will begin operations, its chief executive said Wednesday.
QuebecOur top priority in infrastructure is to ensure that our light rail network is up and running as advertised. Asset managers have already said Chief Executive Officer Charles Emond has begun talks with unidentified parties about a potential investment of a similar nature. He specified only that the project is both in Canada and abroad.
REM's construction crew recently completed the electrification of his 16-kilometer branch of the network between downtown Montreal and Brossard. Test runs of the Samuel de Champlain Bridge, a major milestone in the project, are currently underway, and the project promoter, his CDPQ Infrastructure (his Caisse division dedicated to infrastructure), has confirmed that the section will be completed this fall. I'm still hoping it will open to the public.
"I don't put an X" on exporting REM's model, Emond told reporters at a press conference in Montreal, discussing Caisse's first half results. .
“Are there any discussions about other projects of this kind here or internationally? The answer is yes.
REM's smooth entry into the service will solidify Caisse's credentials on the international stage. Very important.
"You must walk before you can run," said Emond. The opening of REM's South Shore branch "is an important step in being able to demonstrate that this kind of project can be done in other parts of the world. Focusing all resources is a priority.”
Launched in 2016, the 67-kilometer REM is a series of delays and costs. caused an excess of The construction of huge concrete pylons on the elevated section also sparked widespread local criticism.
Problems with the Mount Royal Tunnel, combined with labor shortages and material supply issues, have delayed the opening of most stations on the light rail network until the end of 2024. CDPQ Infra, he said in June,CDPQ Infra also conceded that delays would make costs higher and that his latest estimate of $6.9 billion would not be met.
Asked about finances, Emond said Wednesday that he would probably have to wait until early 2023 for an update on REM's costs. About 74% of the network is complete, he said.
Several types of projects could be of interest to Caisse as it seeks new infrastructure investments, he emphasized Emond.
"These aren't necessarily cut-and-paste projects," he said. “We have a variety of projects, such as eco-friendly and durable mobility projects. We may have four or five projects to work on, but these discussions can go on for a while.Many people will come to see us.”
ftomesco @postmedia.com
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