Montreal Port Project Backed Sees Cost Rise to $1.7 Billion
(Bloomberg) — The cost of a new Port of Montreal terminal that Canadian Prime Minister Mark Carney says is in the national interest has soared to C$2.3 billion ($1.7 billion),...

Sept 30 (Reuters) – Unionized workers have begun a three-day strike at two terminals of the port of Montreal as talks over a new contract are yet to result in a labor agreement, the Canadian port’s authorities said on Monday.
The partial strike will impact the Viau and Maisonneuve terminals, which account for about 40% of the port’s container traffic. Operations are expected to remain shut till 6:59 a.m. ET on Thursday, Oct. 3.
“Montreal Port Authority expresses its disappointment that no agreement has been reached between the Maritime Employers Association (MEA) and the Longshoremen’s Union to avoid a work stoppage,” the port said.
Each day of work stoppage puts $90.7 million in economic activity at risk, the port added.
The union did not immediately respond to a Reuters request for comment.
Talks between the MEA and labor union remain in a deadlock over wages.
The president of the port authority Julie Gascon previously said she expected a strike to have a domino effect on importers, exporters and general public.
Montreal is the largest container port in eastern Canada and accounted for 3.5% of Canada’s GDP in 2022, Gascon said, adding that nearly C$6 billion worth of goods were due to arrive at the port of Montreal in the coming weeks.
(Reporting by Abhinav Parmar, Shivani Tanna and Kanjyik Ghosh in Bengaluru; Editing by Janane Venkatraman and Leroy Leo)
(c) Copyright Thomson Reuters 2024.
This article contains reporting from Reuters, published under license.
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