Caisse de depot to finance and develop Quebec infrastructure projects - InfoNews

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Caisse de depot to finance and develop Quebec infrastructure projects

Caisse de dépôt et placement du Québec President and CEO Michael Sabia and Quebec Premier Philippe Couillard shake hands at a new conference in Montreal on Tuesday, Jan. 13, 2015. The Quebec government plans to have the Caisse de depot pension fund system take over the financing and ownership of infrastructure projects, starting with public transit. THE CANADIAN PRESS/Ryan Remiorz
January 13, 2015 - 7:31 AM

MONTREAL - The Quebec government plans to have the Caisse de depot pension fund system take over the financing and ownership of infrastructure projects, starting with public transit.

The province says the approach will remove costly projects from its books and could be a model for other governments.

The Caisse manages provincial pension funds and is one of Canada's largest investment managers.

It will create a subsidiary that will plan, finance, develop and operate projects that have potential to generate returns for its clients.

The first two projects are a public transit system on Montreal's new Champlain Bridge and transit link between downtown Montreal and Trudeau International Airport on the city's West Island. The Caisse is aiming to complete the projects, worth $5 billion, projects before the end of 2020.

Other projects proposed by the government would be added and financed by equity investment and long-term debt.

The Caisse has more than 15 years of experience in infrastructure investment in Canada, Europe, the United States and Australia. In 2005 it was lead investor in the construction and operation of The Canada Line, the rapid-rail service connecting Vancouver Airport with the city's downtown.

News from © The Canadian Press, 2015
The Canadian Press

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