In the spring of 2019, the Port of Québec announced the signing of a long-term commercial agreement with Hutchison Ports, one of the largest terminal operators in the world, and Canadian National (CN), North America’s leading transportation and supply chain services company, to build and operate the new container terminal as part of the Laurentia project. The project, estimated at $775 million, will be primarily funded by a joint investment from the three partners.
Thanks to this agreement, Hutchison Ports’ global network now includes ports in 27 countries, including the United Kingdom, Spain, Poland, Sweden, Germany, the Netherlands, Belgium, Australia, China, Pakistan, Egypt, Argentina, Mexico, and Panama. Hutchison Ports is a veritable force in the global marine industry and handles nearly 85 million TEUs per year (twenty-foot equivalent units), or around 11% of global container traffic.
“We selected Hutchison Ports because it is a world-class operator with customer-focused expertise that shares our commercial vision in terms of supply chain efficiency, innovation, and security. Today, thanks to a joint venture between Hutchison Ports and CN, the Laurentia project will be a commercially successful and socially accepted project in Québec and North America and a vehicle of economic development for Québec that will allow the St. Lawrence to capture an increased share of growth and compete better with American ports,” states Mario Girard, President and Chief Executive Officer of the Québec Port Authority.
Under the agreement, Hutchison Ports will build an environmentally friendly and technologically advanced port handling facilities in North America. It represents a unique opportunity for the Port of Québec’s future container terminal to be among the terminals with the lowest environmental footprint in the world.
“We are pleased to partner with the Québec Port Authority and CN to develop the Québec container terminal. Québec City will become Hutchison Ports’ gateway to the East coast of North America. With its fully intermodal deep-water port, its strategic location to reach the Midwest market, and the strong support shown by the local authorities, the Québec project has all the attributes to be successful in this highly important market,” said Eric Ip, Group Managing Director of Hutchison Ports.
“In an economy where the transportation of goods is driven by consumer spending, long-haul supply chains need to be modern, cost-effective and reliable. Hutchison is a world class container operator, and we are confident that we are partnering with a group that can make the project a success,” adds JJ Ruest, President and Chief Executive Officer of CN.