Ontario government call for matching federal funds for ‘Ring of Fire’ roads

The governing Liberals in Ontario, Canada say they are willing to commit US$907 million (CAD 1billion) to develop a transport corridor including roads to the ‘Ring of Fire’, believed to hold one of the biggest chromite deposits globally, if the funds are matched by the federal Conservatives. They have asked Prime Minister Stephen Harper to pay for 50% of the $2.03 billion (CAD 2.25 billion) estimated cost of developing project-linked roads and industrial infrastructure.
April 30, 2014 Read time: 1 min
The governing Liberals in Ontario, Canada say they are willing to commit US$907 million (CAD 1billion) to develop a transport corridor including roads to the ‘Ring of Fire’, believed to hold one of the biggest chromite deposits globally, if the funds are matched by the federal Conservatives. They have asked Prime Minister Stephen Harper to pay for 50% of the $2.03 billion (CAD 2.25 billion) estimated cost of developing project-linked roads and industrial infrastructure.

The Ontario Chamber of Commerce has estimated that new economic activity totalling $8.52 billion (CAD 9.4 billion) could be generated by the transport corridor project in the next 10 years and support 5,500 jobs annually.

Moreover, the project would provide nearly $1.81 billion (CAD 2 billion) in revenue to the federal, Ontario and municipal governments during that period, as well as $6.07 billion (CAD 6.7 billion) over 32 years.
Road Structures

Related Content

  • Key projects in hand for India
    September 7, 2015
    The Indian Government plans to build a new highway connecting Katra with New Delhi. The route will be some 600km long, running through Punjab, Haryana, Jammu and Kashmir. A consultant is being selected to carry out a feasibility study for the project. The project will cost in the order of US$2.25 billion and will be of importance as Katra is where the Vaishno Devi holy shrine is located. The new link will reduce travel time on the route from 11-12 hours at present to five-six hours when the work is complete
    Read More
  • Concern over the state of US bridges
    April 1, 2019
    Bridge condition is a serious concern in the US, according to a new report from American Road & Transportation Builders Association (ARTBA).
    Read More
  • US state of Ohio investigates road fund alternatives
    June 15, 2012
    The authorities in the US state of Ohio continue to investigate new methods of generating revenue for highway investment. The state is facing a funding shortfall of up to US$1.6 billion on its highway maintenance and expansion plans to meet traffic volume needs. As a result, the Ohio Department of Transportation (ODOT) is moving forward with a plan to explore the commercial development of certain state-owned rest areas. The state is pursuing the conversion to service plazas of five of the state’s 59 non-int
    Read More
  • India unveils ‘economic corridor’ plans for 27,000km of roads
    September 21, 2016
    India has embarked on an ambitious 6-year plan to upgrade 27,000km of roads into economic corridors. The goal is to reduce traffic congestion and boost jobs in 30 cities, according to a report by the Times of India. Around 44 stretches of highway have been earmarked for improvement and construction will include ring-roads. Financing will be a mixture of private investment and public money. In addition, the government will develop another 15,000 km, which will serve as feeder routes to these corr
    Read More

Highlighted Content