MONTRÉAL, June 15, 2017 /CNW Telbec/ - Caisse de dépôt et placement du Québec is pleased to have received confirmation of a $1.283-billion investment, by the Government of Canada and Prime Minister Justin Trudeau, in the Réseau électrique métropolitain (REM) project.
With this commitment, which meets the needs of la Caisse and its subsidiary, CDPQ Infra, the $6.04-billion financing package for the construction of the REM has therefore been finalized.
"We are pleased to have the Government of Canada confirm the quality of the REM project by investing in this ambitious project. This commitment is further proof of what can be accomplished through dialogue and collaboration. That is how the REM project will be carried out as well as how we will be able to improve the quality of life of thousands of citizens and make our metropolis more sustainable," said Michael Sabia, President and Chief Executive Officer of la Caisse.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2016, it held $270.7 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
SOURCE Caisse de dépôt et placement du Québec