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Photo: Montreal Port Authority
DP World has announced that its Canadian subsidiary has signed a concession agreement with the port authority of Montreal to build and operate the planned Contrecœur container terminal.
The facility is set to offer 1.15m teu capacity when it opens – currently slated for 2030 – and will have two deepsea berths with rail connections to its yard.
According to the Xeneta-owned eeSea liner database, Montreal’s current annual capacity is 2.55m teu, and last year the port’s four existing box terminals handled a combined 1.46m teu.
“The agreement with DP World here in Canada marks a decisive step in realising the port of Montreal’s expansion project in Contrecœur,” said Julie Gascon, Montreal Port Authority (MPA) president and CEO.
“By leveraging innovation, sustainability, and the expertise of a world-class partner, we are strengthening the port of Montreal’s strategic role as an economic engine for Quebec and Canada.
“This project is designed not only to meet the growing need for business diversification, but also to create long-term value by supporting Canadian economic sovereignty as global trade evolves,” she added.
DP World said the terminals design would be completed this year, via a “hybrid” approach between the port authority and terminal operator.
“In-water works are overseen by the MPA and have been planned in collaboration with CTCGP (Pomerleau and Aecon) using a collaborative design-build approach; and land works and operations will be under the responsibility of DP World, which will lead the construction of the terminal (container yard, buildings, utilities, and rail connection) and ensure its operation and maintenance for the next 40 years,” DP World said.
The deal will also see terminal ownership in the port diversified, with the new terminal joining four existing terminals – the Maisoneuve and Viau terminals operated by a 50:50 joint-venture comprising Stevedoring Services of America and MSC’s TiL; and the Cast and Racine terminals managed by local operator Montreal Gateway Terminals Partnership.
DP World’s investment in the project is via its Canadian subsidiary, a joint-venture firm with Canadian pension fund La Caisse (previously known as CDPQ), which has invested in the Dubai-headquartered terminal operator’s other facilities, including a stand-out $5bn investment in 2022 in part of its flagship Jebel Ali port, which Loadstar Premium concluded was part of a widespread debt restructuring process.
That had followed a 2016 deal in which the two partners created a $3.7bn investment fund to develop Canadian port and supply chain infrastructure.
“The Contrecœur terminal will serve as a true economic engine for Quebec and Eastern Canada – creating thousands of jobs during construction and driving long-term prosperity through expanded trade capacity,” Doug Smith, CEO of DP World in Canada, said.
“This project will not only strengthen the region’s position in global commerce but also deliver lasting benefits for local communities and businesses,” he added.
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