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

  • Brazil launches new transport infrastructure investment plan
    August 30, 2012
    The Brazilian government has announced a new transport infrastructure investment plan involving the concession of motorway operations and modernisation of the railway sector. The private public partnerships are predicted to lead to an investment of US$65.68 billion (BRL 133bn) in the next 25 years, including US$ 39.63 billion (BRL 80bn) to be spent in the first five years of the contract.
    Read More
  • Caribbean: a region stepping up to the road safety challenge
    July 5, 2016
    Transport Minister sets ambitious Vision at IRF Caribbean Regional Congress. Returning to Montego Bay, Jamaica, IRF’s 5th Caribbean Regional Congress was dominated this year by discussions focused on reducing injury risk through coordinated action by public and private sector stakeholders. Close to 100 participants from a host of Caribbean nations have reaffirmed a vision for roads free from death and serious injury. Many of Jamaica’s government departments with a role in achieving this vision were prese
    Read More
  • Plenary sessions to serve key role at 17th IRF World Meeting in Riyadh
    June 24, 2013
    Plenary sessions will set the stage for and are at the core of activities for the 17th IRF World Meeting & Exhibition. The opening session will celebrate the host country of Saudi Arabia, as well as the IRF’s first 65 years, including the federation’s many accomplishments throughout the decades and its commitment to professional training, education, road safety and the sharing of information and knowledge. This session will also remind those in attendance about the powerful links between a strong and stable
    Read More
  • Colombia: New decree allows pension funds to finance 4G projects
    June 25, 2015
    Columbian president Juan Manuel Santos Colombia has said pension fund money could help finance the country’s ambitious 4G motorway projects. Columbia has 35 road projects underway costing more than US$11.7 billion, including the first two 4G tender waves with six public-private partnerships that have already been approved. During a banking convention held in the coastal city of Cartagena in mid-June, Banco Davivienda president Efrain Forero lending capacity studies have been completed for 4GH projects
    Read More

Highlighted Content