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

  • China looks to the future with major highway plans
    February 15, 2012
    China is still moving ahead with plans that will give it the world's biggest highway system. Patrick Smith reports. As China's economy grows even more, keeping the country on the move has become a priority for the government. While the country has made great strides over the past decade in improving its infrastructure, the number of vehicles has also increased rapidly, and in some instances restrictions have been placed on them.
    Read More
  • Australia responds to infrastructure funding challenge
    July 13, 2012
    The Global Financial Crisis (GFC) has drastically changed the way governments and the private sector is prepared to procure vital infrastructure projects, says Philip Davies Governments have responded to the GFC by focusing on long term investment in transport infrastructure and shorter term stimulus packages to kick-start economies. As these projects proceed, the focus will shift to maintaining and achieving maximum benefits from assets and future infrastructure funding. The Public Private Partnership (PP
    Read More
  • Road tolling is vital for good roads
    January 2, 2024
    Upcoming transportation projects are outlined in planning documents throughout America by Mary Scott Nabers
    Read More
  • EIB aids funding for Poland's A2
    July 12, 2012
    The European Investment Bank (EIB) will help funding of the A2 highway project in Poland, which has faced financing problems due to the economic crisis. The EIB is making an exception to its usual policy by granting to Polish company Autostrada Wielkopolska credit that covers over 50% of the costs of the construction work for a highway section. The EIB will provide €1 billion for the A2 investment and to create an option of an additional €200 million. The total value of the investment, which is expected to
    Read More

Highlighted Content