The Quebec Bridge sold for $1

The Quebec Bridge sold for $1
The Quebec Bridge sold for $1

The agreement that will be officially announced next week in Quebec by Prime Minister Justin Trudeau also includes a clause to the effect that CN could run trains on a possible new road link.

The government assumes past, present and future responsibility for the bridge, its condition and its maintenance.

CN will pay an unindexed sum of $6.1 million per year for the next 25 years. From the 26th year, the amount will be indexed at 2%. The total amount by 2075 will be around $350 million.

And what if there is ever a third link?

The sun also learned that if the Quebec bridge was no longer in good condition the day the Quebec government built a new road link, CN could relocate the railway tracks and transfer the agreement to a new link.

The Quebec Bridge has been the property of CN since 1993.

For several years, Ottawa and CN have been negotiating a buyout for central infrastructure. If the structure is still solid, the heritage-listed bridge needs painting, enhancement and regular maintenance.

Thursday, Minister Jean-Yves Duclos indicated that an agreement had been reached, confirming the information from 98.5 FM.

However, he was stingy with comments and details, limiting himself to talking about a “good deal“.

The Quebec government has a right of pre-emption, a first refusal, on the purchase of the bridge. But quickly on Thursday, the Legault government announced that it would not oppose the takeover by Ottawa.

#Canada

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