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

  • Poland’s construction industry on its way to recovery
    March 23, 2016
    After a sluggish performance over the past couple of years, Poland’s construction is recovering strongly, according to a new report by Timetric’s Construction Intelligence Centre. Construction activity in Poland was weak during the report’s review period, 2011–2015, because of a deteriorating business environment, weak economic conditions, currency depreciation and a lack of foreign capital investment. The report, ‘Construction in Poland – Key Trends and Opportunities to 2020’, noted that the construction s
    Read More
  • Mostotrest won another tender for building of Moscow-St Petersburg highway
    February 20, 2014
    The award for a key stretch of the Moscow-St Petersburg highway has been awarded - Eugene Gerden writes As expected by analysts, Mostotrest, owned by the Rotenberg brothers, won the tender for the construction of the sixth and longest section of the Moscow-St Petersburg highway. Under the conditions of the tender the company will build 209km of the highway (334-543km), which will pass through the Tver and Novgorod regions of Russia. The cost of construction is 144.6 billion Rubles (US$4.51 billion), 16 bill
    Read More
  • Go-ahead for new Forth Road Bridge
    March 1, 2012
    Scottish MPs have voted overwhelmingly in favour of a replacement for the Forth Road Bridge that will protect a vital link in the strategic transport network.
    Read More
  • ARTBA reports green success in US
    March 1, 2012
    A new report from the American Road & Transportation Builders Association (ARTBA) says that the US transportation sector has been instrumental in improving the country's environment over the past 40 years.
    Read More

Highlighted Content