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

  • Mexican road projects in hand while others face delays
    February 23, 2012
    Several key highway developments are being planned in Mexico, although project delays are now facing increasing public scrutiny.
    Read More
  • ERF calls for roads maintenance funding
    February 19, 2014
    On 27 November, six key stakeholders sounded an alarm bell to Member States urging them to stick to their pledges made at the International Transport Forum meeting in May 2013, where Ministers signed a joint declaration on Sustainable Infrastructure Financing On the occasion of the launch the latest consultation paper on ‘Roads that Cars can Read’, The European Automobile Manufacturers Association (ACEA), the Federation Internationale de l’Automobile (FIA), the International Road Transport Union (IRU), t
    Read More
  • Tunnel Boom in Central and Eastern Europe
    September 15, 2015
    Following the success of the 41st World Tunnel Congress held in Croatia last May, World Highways looks at two signi_ cant projects in Slovakia and Serbia – Adriana Potts reports Central and Eastern Europe is buzzing with a number of major projects being developed - including highways, bridges and tunnels – and with many more in the pipeline. The region is expected to be highly active with plans for developing infrastructure in the next two decades, according to Davorin Koli , president of the Croatian
    Read More
  • New US toll road regulation criticised
    April 10, 2012
    High road toll increases bring threat of new regulation in US - *Bob Poole reports. Large toll rate increases have been implemented recently by the Port Authority of New York and New Jersey, justified in part to help pay for its World Trade Center project. In response, a bill was introduced in Congress that would allow the Secretary of Transportation to regulate tolls on every bridge on the country's Interstates and other federally aided highways.
    Read More

Highlighted Content