The Port of Montreal adding capacity to support Ontario economic growth
TORONTO, March 30, 2023 /CNW/ - The important business relationship linking the Port of Montreal and Ontario companies will continue and strengthen in the years ahead, said Martin Imbleau, President and Chief Executive Officer of the Montreal Port Authority, today in a speech at the Toronto Region Board of Trade Transportation Symposium. The Ontario market, which accounts for about two million containers per year, could increase by 50% by 2035 thanks to manufacturing policies and recent developments in the automotive sector.
Strategically located on the St. Lawrence-Great Lakes Seaway, the Port of Montreal is a Canadian strategic trade infrastructure notably serving various businesses in Ontario and in the greater Toronto area. Over the next few decades, this ongoing link will be further strengthened thanks to Montreal's port infrastructure development projects.
"The Port of Montreal is the Eastern gateway to the heart of the country. Quebec's logistics ecosystem makes it possible to import and export containerized goods to meet close to 75% of the country's industrial capacity. Recent crises show that capacity is needed. Building capacity to our future terminal will enable us to meet growing demand, providing a seamless and cost-effective solution to meet business needs, specifically to Europe and the Indo-Pacific region," said Martin Imbleau.
Aside from providing a greener solution, the Port of Montreal is also up to 15% more competitive than other gateways.
Martin Imbleau reiterated the importance of developing a more resilient trade infrastructure, given that the factors that caused the supply chain crises that Canada has been experiencing are still present.
About the Port of Montreal
Operated by the Montreal Port Authority (MPA), the Port of Montreal is the second largest port in Canada and a diversified transshipment centre that handles all types of goods: containerized and non-containerized cargo, liquid bulk and dry bulk. The only container port in Quebec, it is a destination port served by the largest shipping lines in the world. It is also an intermodal hub with a service offering that is unique in North America, featuring its own rail network directly dockside connected to Canada's two national rail networks. The MPA also operates a Cruise Terminal and a Port Centre.
The MPA factors economic, social and environmental components into its corporate initiatives. This commitment is governed by a sustainable development policy whose guiding principles focus on involvement, cooperation and accountability. Port activity supports 19,000 jobs and generates $2.6 billion in economic benefits annually.
SOURCE Administration portuaire de Montréal
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