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

  • Roads are an asset that society cannot live without says the European Road Federation’s new long-term safety manifesto
    April 11, 2013
    Roads are an asset that society cannot live without argues a new manifesto out this month from the European Road Federation, as the lobby group launches a new policy for long-term, effective management of a safe and efficient European road network. Roads represent an incomparable link in the global chain of transport and mobility says the European Road Federation (ERF). The condition of the roads in Europe might look satisfactory at first glance, but what could appear acceptable on the surface can be hiding
    Read More
  • ALARM survey wins the argument for UK government backing and more road spending
    February 27, 2015
    A UK-based “Annual Local Authority Road Maintenance (ALARM) Survey” has proved so successful that its backers believe it has started to change government policy and attitudes to the country’s road maintenance plan. ALARM, which is backed by the Asphalt Industry Alliance (AIA), has encouraged the UK government to introduce a new long-term 5-year £1 billion road maintenance funding plan and its findings are being openly used by senior members of the Cabinet said Rick Ashton, market development manager at Tota
    Read More
  • Serbia upgrading infrastructure
    May 2, 2012
    Serbia has managed to reduce the cost of building the Corridor 10 highway by €80 million. These funds will instead be used to pay for upgrades and improvements needed for the second section of the highway project, close to Neradovci. So far some 180km of the Corridor 10 highway has been built over a 40 month time frame. A further 150km of the highway has still to be built. Work on the Corridor 10 motorway is also being financed by the European Bank for Reconstruction and Development and the state budget. Wh
    Read More
  • Serbia upgrading infrastructure
    March 16, 2012
    Serbia has managed to reduce the cost of building the Corridor 10 highway by €80 million. These funds will instead be used to pay for upgrades and improvements needed for the second section of the highway project, close to Neradovci.
    Read More

Highlighted Content