Port of Quebec signs $ 775-million deal for new container terminal
The Québec Port Authority (QPA) has entered into a $ 775-million agreement with Hutchison Ports, the largest port system in the world, and Canadian National (CN) for the construction and operation of the new container terminal as part of the Laurentia project (formerly called Beauport 2020).
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The $ 775 million project will be funded primarily through a joint investment by the three partners. The QPA is also continuing discussions with the federal and provincial governments to complete the funding.
Once in operation, the new terminal will create hundreds of jobs. Hutchison Ports was chosen following a process in which the QPA invited the main terminal operators in the world to submit an offer and to participate in the project. HSBC acted as exclusive strategic and financial advisor to the QPA as part of this process.
“We chose Hutchison Ports because it is a world-class operator with a customer-focused expertise that shares our business vision of supply chain efficiency, innovation, innovation and innovation. safety and environmental concerns, “commented the President and CEO of the Quebec Port Authority, Mario Girard, who hopes to compete with US ports.
The agreement provides for Hutchison Ports to build the greenest and most technologically advanced harbor handling facilities in North America. This is a unique opportunity for the Port of Québec’s future container terminal to become one of the terminals with the lowest ecological footprint in the world.
The Port of Québec is also taking this opportunity to present the new brand image of its deep-water container terminal. In order to refer to the genesis of the North American continent, the project will now be called Laurentia, reflecting the continent-wide significance and importance of the new container terminal on the St. Lawrence.
According to the APQ, the Laurentia terminal possesses strategic assets that give it a unique role in the continental logistics chain. As the deepest inland terminal located farthest inland in North America, it is the only facility on the St. Lawrence that can accommodate new generations of high capacity vessels. It takes advantage of rail service and a direct motorway connection and has all the space required to efficiently transit thousands of containers per year.
According to a KPMG study, in the construction phase alone, the project will generate $ 500 million in economic spinoffs and an average of 1267 jobs per year. Ultimately, the project will generate $ 84 million in economic spin-offs per year and create nearly 800 jobs, including 500 direct jobs, in Quebec City.
The deep-water container terminal is currently undergoing an environmental assessment process by the Canadian Environmental Assessment Agency.