2008-2010 Capital Spending Plan
Essential investments for reviving
public transportation in Montréal
Montreal, November 29, 2007 - The Société de transport de Montréal (STM) today unveiled its three-year capital spending plan covering investment expenses for 2008-2010 and their impact on subsequent years. According to Board of Directors Chairman, Claude Trudel, “These investments are mainly aimed at maintaining and replacing STM assets, as well as increasing and improving transit services provided to clients throughout the greater Montréal area.”
For 2008-2010, with the help of its financial partners, the STM plans on spending over one and a half billion dollars, with $1.49 B earmarked for subsidized capital spending projects, $23.8 M set aside for non-subsidized projects, and $16.3 M for other miscellaneous projects.
The métro network’s share of these investments totals $941.9 M and will serve mainly to uphold the system’s reliability and improve customer satisfaction. These investments will also allow Phase II of the R�no-Syst�mes and R�no-Stations programmes to be carried out, in addition to replacing the MR-63 métro cars that are now over 40 years old. These projects alone account for 91% of all métro-related investments.
In the next few years, thanks to financial contributions by the federal government, as part of its Transit-Secure Program, the STM will go ahead with various other projects aimed at increasing security within its facilities. The programme will enable the STM to proceed with the installation of controlled access systems and image analysis systems.
As for the Bus network, Mr. Trudel indicated that “Nearly half a billion dollars will be invested to increase service frequency, ensure the delivery of quality services, and improve customer satisfaction. This money will specifically be used to finance the purchase of standard and articulated buses, expand and redesign the Legendre bus depot, build a new bus body shop, and implement new operating support systems.”
Regarding the other projects, they account for 5.9% of investment expenses, for a total of $91.6 M. Over 50% of these expenses, or $45.6 M, is earmarked for the Fare Sales and Collection project, aimed at improving the transit fare sales and distribution system. The remainder is set aside for computer equipment and the replacement of service vehicles.
“All of these investments are made possible in large measure thanks to a considerable financial contribution by the ministère des Transports du Québec, as part of the government assistance program for public transit, which was recently expanded to allow for other categories of qualified expenditures, and that we welcomed,” emphasized Mr. Trudel. Moreover, investments aimed at increasing and improving services are also made possible thanks to another government assistance program for improvements in public transit services.
Mr. Trudel took the opportunity to remind everyone that the governments of Canada and of Québec, through the latter’s local infrastructure funding corporation (SOFIL) will contribute $504 M in financial aid for public transportation for the 2006-2010 period. The STM’s share is set at $365.7 M, with the City of Montréal covering 15.5% of expenses related to infrastructure projects, representing some $67.1 M.
“The STM is understandably pleased by this new assistance programme giving it access to a total of $433 M for its infrastructure expenses. Conditions are favourable to public transit,” concluded Mr. Trudel. “Finally!”
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