MONTRÉAL, Que.– The Fonds de solidarité FTQ will invest $100 million with a view to developing projects to create logistics clusters as part of the Government of Québec’s Maritime Strategy. The Government is investing $200 million in such projects, which will create jobs and further Québec’s economic growth.
“Nature has given Québec a competitive edge: the St. Lawrence River, an exceptional trade corridor. Given our mission to create jobs and grow the economy, it makes perfect sense for the Fonds to work with the Government of Québec and national, regional and local actors on projects to create logistics clusters,” said Gaétan Morin, President and CEO of the Fonds, during a press conference at the Port de Montréal.
Logistics clusters provide basic services for road, rail and maritime transportation. Vital to the Québec economy and trade, these hubs can offer loading and storage facilities, customs clearing, office technology, inventory management, order processing, and assembly and labelling services.
The Fonds and the transportation sector
Since its inception, the Fonds and the Fonds régionaux de solidarité FTQ have invested $381 million in the transportation sector. The current portfolio in this sector represents total investments of $281 million in 17 projects accounting for 8,198 jobs in Québec.
The Fonds de solidarité FTQ recently joined a predominantly Québec consortium led by Montreal-based Fiera Axium Infrastructure to acquire Montreal Gateway Terminals, a company specializing in the handling of marine containers moving between international markets. The company operates two of the three terminals in the Port de Montréal.
The Fonds’ reach extends to other ports in the province as well. For example, it has a long-standing partnership (over 20 years) with Québec’s top two road carriers (Transforce and Groupe Robert), which provide important links between port activities and customers. The Fonds has also invested in other companies in the sector.
The Montreal Port Authority (MPA), for its part, has welcomed the Quebec government’s announcement introducing the first ever Quebec Maritime Strategy. The announcement was made this morning at theIberville cruise terminal.
The MPA is thrilled by the government’s commitment to support the marine industry with more than $1.5 billion in investments, along with its commitment to sustainably develop the marine economy.
“On behalf of the MPA, I enthusiastically welcome this first ever Quebec Maritime Strategy, that I believe marks a turning point for our industry,” stated Sylvie Vachon, President and CEO of the MPA. “This Strategy will strengthen the collaborative efforts already underway between marine industry and supply chain players to develop concrete projects that generate economic benefits through the best environmental and social practices.”