Prices threats | The STM raises its hand for its infrastructure projects

The Montreal Transport Company (STM) is “ready” to meet the demand of Prime Minister François Legault, who wants to accelerate the construction of infrastructure to counter the impact of a potential trade war with the United States. Several of the projects awaiting the carrier could quickly stimulate the economy, he argues.
What to know
The Prime Minister of Quebec, François Legault, spoke of the need to invest in transport infrastructure to counter US tariff threats.
The STM invites the government to reinvest in the metro, as a Quebec product.
The mayor of Montreal, Valérie Plante, is to tackle the issue on Wednesday.
“We heard the Prime Minister say that we must be united, that we must become aware of the importance of our economic development. Well, both for use and for its construction, the metro, it is money made in Quebec that returns to Quebecers, “says the chairman of the Board of Directors of the STM, Éric Alan Caldwell, in an interview .
Photo Marco Campanozzi, Archives La Presse
Éric Alan Caldwell, Chairman of the Board of Directors of the STM
In recent days, when the threat of American prices of 25 % hovered, François Legault has mentioned his desire to accelerate the construction of infrastructure in health, education, as well as transport to create more jobs in Quebec, But also to limit the presence of American suppliers.
A stay of at least 30 days was announced on Monday by the White House, but the specter of a trade war remains very real.
Mr. Legault, who spoke of American threats on Monday as well as a “sword over our heads”,, among other things, asked Investissement Québec (IQ) and the Caisse de Dépôt et Placement du Québec (CDPQ) of “Everything Do so that Quebec business development projects come true as quickly as possible. ” He also wants to speed up construction projects related to energy and construction industry to reverse the trend.
All this is “possible quickly with us,” said Caldwell, whose group has a heavy deficit in maintaining assets of at least six billion.
These are investments necessary for people here, which will be made in Quebec. 97 % of our suppliers are Quebecois. We do business with 1,800 actors distributed in 14 regions. In terms of economic security, it is a win-win.
Éric Alan Caldwell, Chairman of the Board of Directors of the STM
Priority: replace aging trains. Since 2020, the reliability of equipment has experienced a marked drop, notes the Montreal carrier, largely due to the aging of the MR-73 trains. The latter can run on average 150,000 km before causing a major breakdown. New azure trains can drive up to 1.5 million kilometers.
Now, time is running out. The MR-73 trains must arrive at the end of their useful life by 2036. Their replacement must cost 2.9 billion, only for the acquisition of new azure trains, estimates the STM. Another billion must go to the replacement of equipment in the garages and the trains control system.
“We have been expecting funding that has never really happened for two years, so for design, we have ahead. We are ready, ”says Caldwell.
In its prebudgetary report which will soon be made public, the STM also estimates that it needs additional funding of $ 585 million over three years to maintain its tunnels, stairs, electronic and electric equipment, in short, “the base” of the metro, Apart from rolling stock.
In the medium term, the carrier asks Quebec to “gradually tender towards funding of 560 million per year, in a recurring and indexed manner”.
“When we take into account all the needs in terms of asset maintenance, they are evaluated between 8 and 10 billion,” said Caldwell.
A common front Wednesday
This outing occurs while the mayor of La Pocatière, Vincent Bérubé, is due to go to Montreal on Wednesday to promote the impact of the metro and the MR-73 trains replacement project for his city. The French multinational Alstom, which bought the Bombardier factory in La Pocatière in 2022, produced most of the metro equipment.
A meeting is also planned with the mayor of Montreal, Valérie Plante, in order to approach the stake of the metro and Quebec investments. The two elected officials should then hold a press conference.
According to Éric Alan Caldwell, the government must become aware “that the metro rolling stock is made in Quebec, which is not the case for our cars”. “Energy expenditure, it is also done in Quebec, while despite electrification, there is still great dependence on oil, which is not produced in Quebec,” he explains.
“We have a double advantage compared to conventional mobility. Our role in Quebec’s economy is therefore very important. Let’s assume it, ”underlines the manager.
Learn more
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- 10.7 billion
- In the next 10 years, the maintenance of assets must monopolize a significant part of the major STM projects, with 10.7 billion investments required until 2034. Of this number, only 800 million are registered in the Quebec Infrastructure Plan , barely 7.5 % of the amount.
Source : sTm