MONTREAL — The Port of Montreal is receiving a $132-million makeover to handle the expected increase in exports to the European market.

Federal Infrastructure Minister Denis Lebel announced today that Ottawa will provide $43.7 million to the project.

The remainder of the money will come from the port itself, which is expecting more business as a result of the recently signed free trade deal between Canada and the European Union.

The money will go toward deepening mooring posts, facilitating the circulation of trucks and increasing the port’s capacity to handle containers.

The Port of Montreal is the country’s second-largest after Vancouver and the fifth-largest along the eastern North American coastline.

Renovations are scheduled to be completed by 2018.