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Federal government invests $1.28 billion in REM

By ReNew Canada 04:49AM June 16, 2017

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Prime Minister Justin Trudeau announced support for a federal investment of $1.283 billion to support the Réseau électrique métropolitain (REM) light rail network in Montréal, subject to necessary due diligence. The announcement will make it possible to finalize the financing of the project and meet the construction schedule of the Caisse de dépôt et placement du Québec.

“The REM is one of the most ambitious public transportation projects in our history,” said Prime Minister Justin Trudeau. “In addition to making it quicker and easier for millions of Quebec residents to get around, the REM will reduce the number of cars on the roads, help ease traffic and make the air cleaner.”

The Prime Minister also announced that, once the Canada Infrastructure Bank is established, it will be possible for the Province of Quebec and the Caisse de dépôt et placement du Québec to identify the project as an opportunity for independent analysis and consideration by the Bank. If the Bank decides to move forward with an investment in the REM project, it will be possible for an investment to come from the Bank rather than Quebec’s transit allocation.

Once completed, this new, automated light rail network will include 27 stations, span 67 kilometres, and operate 20 hours a day, 7 days a week. It will link Montréal’s downtown to the West Island, South Shore, North Shore, and Pierre Elliott Trudeau International Airport. The 67-kilometre REM will be the fourth largest automated transportation system in the world after Singapore (82 km), Dubai (80 km) and Vancouver (68 km).

It is estimated that REM would reduce greenhouse gas (GHG) emissions by at least 35,000 tonnes within its first year of operations.

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