June 15, 2017 / 3:58 PM / 2 years ago

CDPQ secures C$1.28 bln from government for Montreal rail project

June 15 (Reuters) - Quebec’s public pension fund said it secured an investment of C$1.28 billion ($963.06 million) from Canada’s federal government for the construction of the world’s third-largest light rail system in Montreal.

The construction of Réseau électrique métropolitain (REM) project has been finalized at C$6.04 billion, Caisse de dépôt et placement du Québec (CDPQ) said on Thursday. (bit.ly/2sf3Jxv)

CDPQ, in November, said it would cost an extra C$400 million ($296 million) to cover three additional stations and was yet to secure funding from the government. ($1 = 1.3291 Canadian dollars) (Reporting by Ahmed Farhatha in Bengaluru; Editing by Arun Koyyur)

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