Cost of Montreal Port Project Backed by Carney Hits $1.7 Billion

The cost of a new Port of Montreal terminal that Canadian Prime Minister Mark Carney says is in the national interest has soared to C$2.3 billion ($1.7 billion), according to a cabinet minister.

The Montreal Port Authority announced earlier this week that it signed a development agreement for the new Contrecoeur terminal with logistics giant DP World Ltd.’s Canadian unit. The project aims to boost the container-handling capacity of the region’s port by more than 50%.

Dominic LeBlanc, Canada’s minister responsible for trade with the US and intergovernmental affairs, revealed the latest cost estimate at a news conference Thursday. ...