In concrete terms, as I said, a major project to electrify our infrastructure is currently under construction. It's a $110 million project. It should be noted that the Saguenay port authority, while significant and strategic, is smaller than, for example, the Montreal or Vancouver port authorities. We don't have the same financial capabilities. For a $110 million project, we must borrow quite a substantial amount, by the way. We received support from the Quebec government to obtain loans. However, to accept these loans and use this money, we need the federal government's authorization. We must amend our letters patent to have the right to borrow this money. We already have financial commitments with the lender. We also need Transport Canada's authorization.
We started this process last year to get ready and to gain access to the money needed to continue the project. However, right now, the processing times are long and the process seems quite complicated. I would say that sometimes we get confused. Transport Canada has carried out analyses. These analyses have been completed. We gather that the recommendations are positive. I understand that this must go through the Department of Finance. We currently haven't heard anything. Our file is with the Department of Finance. We would like our file processed and returned to Transport Canada so that we can amend the letters patent to access the money. We can't stop work at this time. We must stick to the schedule. The contractor is on site and we must make payments. At this point, we're scraping together the money and things have become a bit complicated. If this drags on, we could run into problems in the near future. This could jeopardize the progress of the project. We could no longer meet our financial commitments. It wouldn't be because we lack the money, but because we don't have the right to borrow without the supplementary letters patent.