Cost of REM could increase
The Caisse de Depot's infrastructure arm provided this illustration of what an REM station would look like
Published Wednesday, June 13, 2018 9:41PM EDT
Last Updated Thursday, June 14, 2018 8:47AM EDT
Quebec may be on the hook to spend a lot more money on Montreal's electric transit line, the REM.
In a report requested by the National Assembly, Auditor General Guylaine Leclerc found that some of the initial price estimates may need to be recalculated.
Leclerc's wrote "there are certain risks for the government that could lead it to the payment of additional sums under an accounting method that will have to be analyzed."
She added that it is too early to determine just yet if the cost of the REM will continue to increase.
Parti Quebecois MNA Alain Therrien questioned Leclerc at length about the project, which is being controlled by the Caisse de Depot, and he is concerned the government's share of funding could balloon.
According to the Canadian Press the latest estimate to construct the REM is $7 billion, with the federal government investing $1.3 billion, as is the provincial government.
The provincial government will also provide up to $8 billion in funding over 20 years once it is operational.