Caisse eyeing other transportation projects once REM launches, CEO says

“Are there discussions involving different tasks of this sort, each right here and internationally? The reply is sure.”

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Quebec’s public pension supervisor is taken with bidding on different transportation tasks right here and elsewhere as soon as Montreal’s Réseau specific métropolitain is up and working, its chief govt stated Wednesday.

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Though the Caisse de dépôt et placement du Québec’s No. 1 precedence in infrastructure is to make sure the light-rail community runs as marketed, the asset supervisor has already begun talks with unidentified events relating to potential investments of an analogous nature, chief govt Charles Emond stated. He specified solely that the tasks are each in Canada and overseas.

Crews concerned in constructing the REM lately completed electrifying the community’s 16-kilometre department between downtown Montreal and Brossard. Take a look at runs throughout the Samuel-De Champlain Bridge — a serious challenge milestone — at the moment are underway, and challenge promoter CDPQ Infra, the Caisse unit that’s dedicated to infrastructure, nonetheless expects the part to open this fall.

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“I’ve not put an X” on exporting the REM’s mannequin, Emond advised reporters throughout a information convention in Montreal to debate the Caisse’s first-half outcomes.

“Are there discussions involving different tasks of this sort, each right here and internationally? The reply is sure. These are preliminary talks, however it’s clear that the Caisse is seen as one of many few consolidators that may handle the whole thing of a challenge of this type. There aren’t loads.”

A easy entry into service for the REM can be essential in solidifying the Caisse’s credentials on the worldwide stage.

“We’ve got to stroll earlier than we run,” Emond stated. The opening of the REM’s South Shore department “is a crucial step that can enable us to reveal that we are able to do this sort of challenge elsewhere on this planet. For me, having all assets targeted on making this challenge a hit within the subsequent two to 3 years is the precedence.”

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Launched in 2016 with a lot fanfare, the 67-kilometre REM has incurred a collection of delays and price overruns. It has additionally sparked widespread criticism domestically for the development of huge concrete pylons in its elevated portion.

Issues with the Mount Royal tunnel, coupled with labour shortages and materials provide points, have postponed the opening of a lot of the light-rail community’s stations to the tip of 2024, CDPQ Infra stated in June. CDPQ Infra additionally acknowledged the delay will end in increased prices, and that the newest estimate of $6.9 billion won’t be met.

Requested about funds, Emond stated Wednesday {that a} price replace on the REM would in all probability have to attend till early 2023. About 74 per cent of the community has been accomplished, he stated.

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A number of kinds of tasks could possibly be of curiosity to the Caisse in its seek for new infrastructure investments, Emond confused.

“These aren’t essentially cut-and-paste tasks,” he stated. “There’s a variety of tasks, of sturdy mobility tasks which might be environmentally accountable. It might vary from the REM to different kinds of transportation. We might be taken with different kinds of tasks. There are perhaps 4 or 5 tasks for which we’ll be in preliminary talks, however these talks can final some time. Typically folks come to see us.”

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