Canada Infrastructure Bank lends $1.28 bln to Montréal REM project
Canada Infrastructure Bank has provided a $1.28 billion loan to help build the Réseau express métropolitain (REM) project in Montréal. The investment, the bank's first, wraps up the project's $6.3 billion financing. Construction of the 67-kilometre electric rail network began in April. The first trains are scheduled to run in 2021. CDPQ Infra, the infrastructure arm of Caisse de dépôt et placement du Québec, proposed the REM project in 2016. CDPQ Infra is providing $2.95 billion of the financing, giving it a stake of about 70 percent. Earlier this year, Canada Infrastructure Bank hired Pierre Lavallée from Canada Pension Plan Investment Board to be its president and CEO.
22 August 2018•3 mins read
