Cost overruns for the Quebec tramway would ultimately be around $500 million rather than $600 million, learned the Journal.
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This is one of many elements that will be included in the update on the megaproject that Mayor Bruno Marchand is due to give on Tuesday and Wednesday.
At the end of October 2021, in the middle of the election campaign, the Journal revealed that the costs of the megaproject had skyrocketed along the way. At that time, the overrun was estimated at $600 million and it was indicated that the budget would be around $4 billion.
“There were adjustments and different ways of calculating,” said a well-informed source to explain the increase in the additional bill from $600 million to around $500 million.
Beyond the $3.365 billion budget, cost overruns must, in principle, be shared “in equal parts” between the federal, provincial and municipal governments. Last November, Prime Minister Legault had however opened the door to “do a greater part in the project”.
During the municipal election campaign, Bruno Marchand promised to make “10 improvements” to the tramway, while saying that he wanted the project budget to remain under control. Monday evening, Thomas Gaudreault, the mayor’s press secretary, did not want to comment on our information.