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UPDATE 1-Canada's Caisse to invest C$3 bln in Montreal rail network

Published 2016-04-22, 12:48 p/m
© Reuters. UPDATE 1-Canada's Caisse to invest C$3 bln in Montreal rail network
BBDb
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(Adds comment from Bombardier spokesperson, additional detail
about deal)
TORONTO/MONTREAL, April 22 (Reuters) - Canadian pension fund
Caisse de depot et placement du Quebec said on Friday that it
would invest C$3 billion ($2.36 billion) in a new public
transport network in Montreal, the third largest of its kind in
the world.
The network will link downtown Montreal, the South Shore,
the West Island, the North Shore and Montreal's airport in a 67
km (41.6 miles) light rail transit system comprising 24 stations
which will be operating 20 hours a day, seven days a week.
The C$5.5 billion project, a public-private partnership
would require the remaining C$2.5 billion investment to come in
funding from the governments of the province of Quebec and
Canada, the Caisse said in a statement.
Canadian train and plane maker Bombardier Inc BBDb.TO ,
which has been facing criticism for delays in delivering new
streetcars to the Toronto Transit Commission, said Friday it
would consider bidding on the Quebec project.
"We are obviously interested in this project and we are
going to be looking into it for sure," Bombardier Transportation
spokesman Marc Laforge said by phone.
Benoit Brossoit, who was appointed as Bombardier
Transportation's new president for the Americas this month, is
meeting with the TTC on Friday afternoon, Laforge added.
($1 = 1.27 Canadian dollars)

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