The company behind Montreal's planned light-rail system insists the project is on track — even though it missed Friday's deadline to award two major contracts.

CPDQ Infra, the Caisse de dépôt et placement du Québec subsidiary responsible for the project, said it requires more time to study and evaluate the proposals put forward.

"These are complex offers that require in-depth analysis. And we take the time necessary to achieve them with all the rigor required for a project of this size," spokesperson Jean-Vincent Lacroix said in an email to Radio-Canada.

"As we have said in the past, we are still aiming to announce the results of the tendering process later this year, when this work is completed."

A map of the proposed rail line that would connect Montreal's West Island, South Shore and Laval. (Caisse de dépôt et Placement)

Five consortiums are vying for the two main contracts in the project, valued at a total of $5.5 billion.

The 67-kilometre light-rail transit system is scheduled to be completed by 2020.