Ottawa, Quebec commit $500M to Trudeau airport REM station
Montreal's airport has the money it needs to build a planned station for the light-rail network already under construction.
Although the Réseau express métropolitain was partly conceived as a way to connect the city's downtown core to the airport, construction of that station had been in doubt until Thursday because Aéroports de Montréal, the private non-profit company that runs Trudeau International Airport, ran out of money to build it. ADM was initially set to cover the full cost of the $600-million station, but a sharp drop in its revenue caused by the pandemic forced it to seek financial aid.
On Thursday, the federal government announced a $100-million cash injection to build the station, while Quebec said it would loan ADM another $100 million to be repaid over five years. An additional $300 million will be loaned by the Canada Infrastructure Bank, with repayment to come over at least 10 years. The interest rates were not announced at the news conference.
ADM CEO Philippe Rainville said the airport will cover the remaining $100-million cost of the station, $45 million of which has already been spent.
“It's settled: your international airport now has the means to welcome the REM on its site,” Rainville said.
The $6.5-billion REM is being financed by the federal and provincial governments, as well as the Caisse de dépôt et placement du Québec, which will be the operator and majority owner. The Caisse has had a tunnel-boring machine digging its way toward the airport in recent months.
Rainville said the airport will begin the call for tenders process in the coming weeks and expects to be able to meet the 2024 timeline to complete the station's construction.
The REM — the most costly public transit project since the métro's first phase in 1966 — is to take over the old Deux-montagnes commuter rail line, and link to the airport, the South Shore via the Samuel-de Champlain Bridge, and to Steanne-de-bellevue along Highway 40.
While the construction of the station was confirmed, the federal government has yet to commit on a plan to link the Trudeau REM station to the Dorval bus terminal, commuter train station and VIA Rail station. A feasibility study has been done to examine how much extending the station would cost, and is being examined by Ottawa.
On Thursday, Transport Minister Omar Alghabra said it's up to the province to decide whether to go ahead with the extension of the station, and the federal government will consider supporting such an extension.
“I know the province is considering other connections; we will continue to be there as an active partner,” he said.