Montreal Port Mulls Debt Issue to Fund $380 Million Expansion
- With no upgrade, the facility would reach capacity in 5 years
- Canada’s second-biggest port expects seventh shipper in April
A cargo ships sits docked at the Port of Montreal.
Photographer: Valerian Mazataud/BloombergThis article is for subscribers only.
Canada’s largest eastern port will consider tapping bond markets as it races to keep up with five straight years of record demand.
The Montreal Port Authority will need about C$500 million ($380 million) for a proposed expansion of container facilities by the middle of next decade, said Vice President Ryan Dermody. A potential debt issue would help pay for a first phase of infrastructure work.