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Three-year capital spending program
Montréal, November 30, 2010 – The Société de transport de Montréal (STM) presents its Triennial Capital Expenditures Plan outlining the estimated $1.9 B in expenditures planned for 2011-2013 and their effects on subsequent years. Such investments are needed to replace or upgrade equipment and infrastructure that already have or will reach the end of their service life in the next few years, including métro railcars and a number of buses, among others. « The 2011-2013 TCEP features 76 projects, nine of which account for 92% of all capital spending, for a total of $1.7 B. These projects are tied directly to the 2020 Strategic Plan, whose ambition is to meet the population’s need for sustainable mobility by being the most productive public transit network in North America. This will help establish Montréal as an agglomeration widely-acknowledged for its quality of life, in addition to being a prosperous economic centre, with strong environmental values. These major projects will help to improve service reliability and punctuality, as well as the quality of client information, to create a safe, friendly and pleasant environment, and to improve universal accessibility, » indicated STM Chairman Michel Labrecque, The share of investments dedicated to the métro system represents $1.1 B, of which $504.7 M are earmarked for the procurement of métro railcars and the upgrading of equipment and workshops. A total of $374.3 M is directed to the Réno-Systèmes programme, while phase I of the Réno-Infrastructures programme will see investments of $104.5 M, and $53.5 M are set aside for phase I of the major renovations at Berri-UQAM station. The STM will also invest some $695.5 M in its bus system. The money will serve to finance the purchase of buses ($242.4 M), implement priority measures along the network’s strategic roadways ($65.4 M), carry out phase II of its infrastructure project ($144.9 M) and, lastly, replace the operations support and client information systems ($153.6 M). These investments all aim at improving transit services and, consequently, increasing ridership. In addition to these sums, starting in 2013, $75 M will serve to establish the tramway network, as it will help with the urban development and re-development of certain strategic areas which, in turn, will improve the quality and level of transit service, while optimally complementing other modes of transportation. The overall cost of the project is set at $750 M. As for projects pertaining to the administrative sector, they represent 1% of the STM’s overall investment spending, for a total of $21.9 M. For the 2011-2013 period, although most projects qualify for a 50% to 100% subsidy, the federal and provincial governments, as well as the Montréal agglomeration, will be financing 81% of capital expenditures for a total of $1.5 B. Financing will be shared by Transports Québec for 61%, the federal government for 16%, and the agglomeration for 4%. The STM will finance the difference, or some 19% of investments, for a total amount of $363.8 M. « These investments are needed to ensure that transit operations run smoothly and to continue improving services and their quality. We are convinced that dedicating new sources of stable and recurrent funding to public transportation is absolutely fundamental, otherwise the STM will be unable to ensure its development or support its growth, » concluded M. Labrecque. The Triennial Capital Expenditure Plan for 2011-2013 is currently available in French (Programme triennal d’immobilisations 2011-2013) on the STM website by clicking here – 30 –
