The TGF between Quebec and Toronto is of interest to the Caisse

Working hard to complete the Réseau express métropolitain (REM), where there have been many delays, the Caisse de depot et placement du Québec (CDPQ) seems to have the intention of raising its hand in the file of the train at high frequency (TGF) which must connect Quebec and Toronto.

“We are actively watching it with great interest,” explained the institution’s president and CEO, Charles Emond, on Thursday. I think here there is a clear interest on our part. »

It remains to be seen how a possible involvement of the woolen stockings of Quebecers – the largest shareholder of Alstom, the world’s second largest rolling stock player – could unfold. For the REM, the CDPQ owns the network, in addition to being the prime contractor and having participated in the financial package.

However, the Trudeau government has just launched the process to determine which three consortia will be invited to bid.

“Obviously, it’s the government’s prerogative to come up with the final technology,” said Mr. Emond. After that, we will analyze the options inside what will be decided. We will see how the case evolves over the next few months. »

Expected details

Several questions surround the TGF. It is still unclear how much the project will cost. The range of 6 to 12 billion previously offered by the Federal Minister of Transport Omar Alghabra no longer holds and the latter no longer wants to indulge in the game of forecasts.

In addition, Ottawa has not yet given an idea, for example, of the proportion of the 1000 km stretch where trains could travel at more than 200 km/h – a scenario mentioned in the request for qualifications process. Despite calls by several politicians for a high-speed train (TGV), which can reach speeds of over 300 km/h.

Premier François Legault as well as Montreal, Quebec and Laval have publicly expressed their preference for high speed. However, this option is considered too expensive by the Trudeau government. Mr. Emond did not specify in what sign he lodged in this file.

The federal authorities are looking for a private partner capable of participating in the financing of the project, in the design, construction, supply of rolling stock and in operation.

Connect the REM

In the meantime, CDPQ Infra’s priority is to commission the southern branch of the REM, which is scheduled for the spring of 2023. This schedule still holds, assures the big boss of the CDPQ.

Moreover, everything indicates that it is not for tomorrow that the REM concept will be exported internationally. Asked about the Caisse’s ambitions, Mr. Emond replied that there was “a lot to do in Quebec”.

“We looked at certain international projects,” he said. In some cases, we passed. From my point of view, I think there is a lot to do here in Quebec. This does not exclude the international, but I would say that we prioritize Quebec and that we will see for the rest. »

According to the latest news, the bill for the electric train network, which extends over 67 kilometers, is estimated at more than 7 billion. Last fall, CDPQ Infra management acknowledged that the amount would be higher, indicating that an update would be made “around commissioning”.