- The consortium led by Ferrovial has been selected Preferred Bidder through a competitive procurement process for Ontario’s Highway 407 East Phase 2 project.
- Ferrovial, via subsidiary Cintra Infraestructuras, will lead the design, construction, finance and maintenance.
- The concession, based on availability payments, will run for 30 years from the end of 2017.
Ferrovial, via subsidiary Cintra Infraestructuras and in a 50% consortium with Holcim (Canada) Inc. has been selected by Infrastructure Ontario and the Ontario Ministry of Transportation as Preferred Bidder to design, build, finance and maintain Highway 407 East Phase 2, which will extend the highway eastward across the Greater Toronto Area. The 32-kilometre concession will run for 30 years from the date the first section of the project opens to traffic, expected in late 2017. The Highway 407 East Phase 2 includes a 22-kilometre extension, with 2 lanes in each direction, starting from Highway 407 East at Harmony Road, in Oshawa, to where it will connect with Highway 35/115, in Clarington. The project also includes a new 10-kilometre link to connect with Highway 401. The 407 East Phase 2 project will be a toll road, and as is the case for 407 East Phase 1, the Ontario government will set the tolls and retain the revenue, while the concession company will be paid to maintain the highway on the basis of an availability formula Cintra will develop this project with Holcim (Canada) Inc. while the design and construction will be undertaken by Ferrovial Agroman and Dufferin Construction Company, a division of Holcim (Canada) Inc. Financial completion of the project is expected to be reached within months. In 2012, again through a competitive procurement process, a consortium led by Cintra was awarded the contract for Highway 407 East Phase 1. This second phase will improve traffic conditions in the region, strengthen opportunities for economic development, and facilitate the movement of goods and people across the area. Cintra is one of the world’s leading private sector developers of transportation infrastructure in terms of the number of projects and the volume of investment. It currently manages over 2,180 kilometres of toll roads in 27 concessions in Canada, the US and Europe.