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The Canadian government will invest CA$1.3 billion to help build a new light-rail network in Montreal, Prime Minister Justin Trudeau announced yesterday.The funds will make it possible to finalize the proposed project's financing and meet the construction schedule established by the Caisse de depot et placement du Quebec (CDPQ), according to a press release issued by Trudeau's office. CDPQ will provide CA$3 billion toward the CA$6 billion project, which is known as the Reseau Electrique Metropolitain (REM). The Quebec government in March committed CA$1.28 billion toward the project.
The automated light-rail system will include 27 stations and span 41 miles. REM will link downtown Montreal, suburban areas and the Pierre Elliot Trudeau International Airport."The REM is one of the most ambitious public transportation projects in our history," Trudeau said. "In addition to making it quicker and easier for millions of Quebec residents to get around, the REM will reduce the number of cars on the roads, help ease traffic and make the air cleaner."Additionally, after the Canada Infrastructure Bank is established, Quebec and CDPQ will be able to identify the project as an opportunity for independent analysis and consideration by the bank.
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