The Canadian government is investing C$10 million ($7.34 million U.S.) from the National Trade Corridors Fund to address supply chain congestion and modernize a key aluminum terminal at North America’s largest mineral port. This strategic move aims to bolster Canada’s trade corridors and enhance maritime operations.
Minister of Transport Pablo Rodriguez emphasized the significance of this investment, stating, “By addressing critical transportation bottlenecks and enhancing our trade corridors, we are laying the foundation for sustained economic growth and prosperity for all Canadians. This project underscores the government’s commitment to ensuring safe and efficient maritime operations while bolstering Canada’s competitiveness in the global market.”
In 2023, the port handled 36.6 million metric tons of cargo, marking a 9.6% increase from the previous year. Situated along the north shore of the Gulf of St. Lawrence, the port accommodates the world’s largest bulk carriers, playing a pivotal role in the region’s economy.
Denis Miousse, the town’s mayor, highlighted the port’s strategic importance, stating, “The port is a major asset for attracting new industries to our region.”
The government funds will ensure the port can maintain trade volumes by upgrading marine towing infrastructure, improving tugboat operations for bulk cargo vessels, and providing navigational assistance for oceangoing vessels transporting iron and aluminum.
The $10 million grant completes the $30 million needed for the project, which includes updating the aging Monseigneur-Blanche terminal. This modernization will ensure reliable and safe maritime services, fostering the growth of exports and solidifying the port’s supply chains.
Construction is set to begin in the fall, following the end of the port’s cruise season.
Canada’s National Trade Corridors Fund, a competitive, merit-based program, has committed $4.1 billion since 2017 to support infrastructure projects that enhance the country’s roadways, railways, aviation, and marine shipping routes, boosting both domestic and international trade.
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