This is the estimate cited by the head of the Caisse de dépôt, Charles Emmond, who is optimistic that future real estate projects near the terminals will be compensated. He also called for caution about the feasibility of all other stages of the fast-moving proposed by the CAQ government.
In a parliamentary committee on Tuesday morning, Mr. Emond was questioned about the significance of the first phase of the vast light rail project that will cover the entire west of the island of Montreal to Montergue, with another extension on the north shore, towards the Docks Montanes.
Mr. Emond argued that only 40% to 50% of planned REM trips in the future would be attributed to work.
In addition, it is estimated from studies that 20% of workers will choose to work remotely, so the downward impact on the total number of passengers should be around 10%.
But in return, Caisse’s senior boss estimates that major real estate development projects around the terminals should increase passenger numbers by 10%.
Mr. Emond launched a cold bath in connection with the realization of all the REM projects that the Legault government would like to entrust to him. Quebec asks Caisse to evaluate an extension of Laval and another to South Shore.
The government mandates us, and he who determines the needs, and we look at the standards and return to them with the usual recommendation., It is to explain.
But it is entirely possible that other projects will not be implemented, because for us they must be economically viable, technically viable and financially profitable. […] Not necessarily because we are looking at a project that we are interested in.
The liberal opposition requested that studies be conducted on the Lachin division, which was requested by the Caucasian government, but Qaisi refused it. However, the government persisted and instead requested the Regional Urban Transport Authority (ARTM) to consider the feasibility of the project.
Liberal MP André Fortin asked to know the reasons for Caisse’s refusal, but the finance minister, Eric Girard, invited him to address the transport minister, François Bonardelle, instead.
The current REM site is a 67 km network with 26 stations. It has a main line, from Deux-Montagnes to Brossard, and two antennas that go west of Montreal Island from Saint-Laurent.
Originally estimated at around $ 6 billion, the REM bill under construction has continued to increase. It was estimated to be at least 7.5 billion in 2018, and in addition, Quebec, Ottawa and Infrastructure Bank of Canada (BIC) recently agreed to provide $ 600 million to the airport terminal from Montreal.
Quebec and BIC are both investors in the REM project, but it is Caisse that owns the network with its $ 3 billion investment.