While working hard to complete the long-delayed Reso Express Métropolitan (REM), the Caisse de depot et placement du Québec (CDPQ) seems to want to raise its hand in the train file at high frequency (TGF). ) which should connect Quebec and Toronto.
“We’re actively looking at this with a lot of interest,” company president and CEO Charles Emond explained Thursday. I think there is a clear interest on our side here. »
It remains to be seen how the potential involvement of Quebecers wool socks, the largest shareholder of Alstom, the world’s second largest rolling stock player, will play out. For REM, CDPQ is the main contractor and has a network as well as participation in the financial package.
However, the Trudeau government has begun the process to determine which of the three consortia will be invited to bid.
“Obviously, it’s the prerogative of the government to come up with the latest technology,” Mr Emond said. After that, we analyze the options to be decided. Let’s see what kind of consequences this case will lead to in a few months. »
Expected details
Many questions surround TGF. It is not yet clear how much the project will cost. The range of 6 to 12 billion previously provided by Federal Minister of Transport Omar Algabra is no longer there and the latter no longer wants to participate in the suggestion game.
Moreover, Ottawa has yet to come up with an idea, for example, of a 1000 km stretch where trains can travel at speeds above 200 km/h – a scenario mentioned in the request for qualifications process. Although many politicians have called for a high-speed train (TGV) capable of reaching speeds of more than 300 km/h.
Photo by Martin Tremblay, The Press
CDPQ President and CEO, Charles Emond
Premier Francois Legault as well as Montreal, Quebec and Laval have publicly expressed their preference for higher speeds. However, this option is considered too expensive by the Trudeau government. Mr. Emond did not specify in which mark he entered this file.
Federal officials are looking for a private partner capable of participating in the project’s financing, design, construction, supply of rolling stock and operation.
Connect the REM
In the meantime, CDPQ Infra’s priority is the commissioning of REM’s southern branch, which is scheduled for spring 2023. This schedule still exists, assures CDPQ’s Big Boss.
Moreover, everything indicates that the REM concept is not for tomorrow to be exported internationally. When asked about the Caisse’s ambitions, Mr. Emond replied “There’s a lot to do in Quebec.”
“We looked at some international projects,” he said. In some cases we passed. From my point of view, I think there is a lot to do here in Quebec. It doesn’t rule out international, but I would say we prioritize Quebec and look to the future. »
According to the latest news, the bill for the 67 km long electric rail network is estimated to be over 7 billion. Last fall, CDPQ Infra Management admitted that the amount would be higher, suggesting it would be updated “around commissioning.”
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