The hikes are blamed in part on inflation, pandemic delays and the discovery of discarded explosives, according to an updated financial analysis.
Building the Réseau express métropolitain in Montreal is costing more than expected, Quebec’s auditor general has concluded.
Speaking to reporters on Wednesday, Guylaine Leclerc said the $7-billion estimated cost of the REM in 2018 jumped to $9.4 billion in 2024.
Leclerc’s conclusion was contained in an updated financial analysis of the REM.
The contract to build the REM was given to CDPQ-Infra, a subsidiary of the Caisse de dépôt et placement du Québec, in 2017.
The REM is expected to be fully operational in 2027 rather than 2024.