Montreal Port Authority and Fonds de solidarité FTQ (FSTQ) announced that they have signed an agreement to create the Partenariat de financement logistique Fonds de solidarité FTQ – Port de Montréal, making up to $100 million available to companies with a development project in Greater Montreal connected with the Port’s logistics chain. Investments will be made available to companies through FSTQ in the form of share capital or an unsecured loan. FSTQ will assess applications on the basis of its investment criteria, and will be solely responsible for agreements with developers. A committee composed of members appointed by the Port and FSTQ will be established to promote this initiative, chaired by Sylvie Vachon, President and CEO of Montreal Port Authority.
“Port of Montreal is proud to partner with the Fonds de solidarité FTQ, a Quebec economic institution whose socially responsible investment values completely match our vision of economic development, to support businesses based here and elsewhere that want to expand or locate to our area. Together, we are taking action to foster business development and economic growth while benefiting the Port of Montreal’s logistics chain,” said Sylvie Vachon.
“The Port of Montreal already plays a vital role in our economy. This new partnership between the Fonds and the Port will encourage investment in logistics that will improve freight transport efficiency in Greater Montreal and benefit Quebec’s small, medium and large exporters. In this way, the Port will help increase exports from Quebec, a goal the Fonds shares with the Quebec government’s Maritime Strategy,” said Gaétan Morin, President and CEO of the Fonds.
The Partenariat de financement logistique Fonds de solidarité FTQ – Port de Montréal is fully in line with the main priorities of the Quebec and federal governments’ investments in marine and logistics infrastructures. It should be noted that this $100 million package is in addition to the $100 million made available by FSTQ under the Quebec government’s Maritime Strategy for the development of projects related to logistics clusters.