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7/6/2016



Rail News: Financials

Quebec, federal officials ink new transit funding agreement


Canadian Prime Minister Justin Trudeau and Quebec Premier Philippe Couillard yesterday ratified an agreement that will pave the way for new public transit projects in the province.

The agreement will allow Quebec municipalities and transit agencies to access more than $1.2 billion (in Canadian dollars) in federal funding over the next three years to implement projects across the province. The funds also will be used for projects related to clean water and wastewater treatment.

Combined with funding from Quebec and municipalities, more than $2.5 billion will be invested in infrastructure projects, according to a press release issued by Trudeau's office. Nearly $924 million in federal funding will go toward transit projects, while $364 million will be earmarked for clean water and wastewater treatment projects.

Quebec is the first province to conclude its agreement with the federal government regarding the Public Transit Infrastructure Fund and the Clean and Wastewater Fund, Couillard said in the release.

"This comprehensive agreement between our governments will make it easier to choose and manage projects, will reduce administrative delays and will get shovels in the ground faster," Couillard added. "This first phase will support public transit organizations in their initiatives to improve their equipment and increase their service offerings."



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