07:40 AM EDT, 09/12/2025 (MT Newswires) -- Canadian Prime Minister Carney Thursday announced the first of five "nation-building" projects slated to be fast-tracked by the government's new Major Projects Office, said Bank of Montreal (BMO).

The government hopes this strategy will reduce approval

timelines to a maximum of two years, starting with these 'phase 1' projects, which are said to represent over $60

billion in investments, noted the bank.

The five projects are Phase two of LNG Canada (British Columbia), The Darlington New Nuclear Project (Ontario), Contrecoeur Terminal Container Project (Quebec), The McIlvenna Bay Foran Copper Mine Project (Saskatchewan) and The expansion of the Red Chris Mine (B.C.).

The PM said the next phase will be announced by Nov. 16 and highlighted some projects that are in earlier phases of completion that could be under consideration.

Key themes in both phases include energy and critical minerals and defense and transportation infrastructure.

So far, these announcements point to the removal of red tape by making approvals more efficient, stated BMO. While the PM hinted at some incremental federal funding may be associated with some of these projects, no specific numbers were given.

Maybe the coming budget will have more details, added the bank.