Salaberry-de-Valleyfield, June 3, 2013 – Investissement Québec has been assisting CSX in its efforts to establish an intermodal terminal in Salaberry-de-Valleyfield since fall 2011. Valued at $100 million, the new facility will encourage the development of new intermodal trade connections with the United States and help make Montréal a North American leader in the field.
The project’s challenges and potential payoffs became apparent to Investissement Québec in 2011. In the same year, it began assisting CSX with various aspects of the project, including securing financing and identifying key stakeholders. In addition, a meeting between Québec Premier Pauline Marois, CSX President and CEO Michael Ward and Investissement Québec President and CEO Jacques Daoust was held in December 2012 in New York City. That meeting proved to be critical to the decision to proceed with the project in Québec.
“Through its unwavering, strategic support for the CSX project, Investissement Québec has demonstrated its leadership and its vital role in attracting and maintaining foreign direct investment, an engine of the Québec economy. This intermodal terminal will boost Québec’s economic growth and lead to the creation of over 300 jobs,” said Jacques Daoust.
Construction work officially gets under way today and is scheduled to take 18 to 24 months, with the terminal set to open in 2015. When the facility is fully operational, it is expected to handle some 110,000 containers a year. The project will also open up access to 12 new intermodal markets east of the Mississippi for Québec exporters.
Based in Jacksonville, Florida, CSX services two thirds of the U.S. population with over 34,000 km of railways and more than 30,000 employees across North America. With sales in excess of $11 billion, it is one of North America’s largest rail transportation companies.
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