407- East Phase 2 | Toronto, Canada

407 East Phase 2

A rapid diversion to the region of Durham

 
 
 

A rapid diversion to the region of Durham

This concession, with a length of 32 kilometers, will have a term of 30 years from the date it is opened to traffic. The first section of the project will be opened to traffic at the end of 2017.

The 407 East Phase 2 is a prolongation of the 407 East Phase 1 toll road, with a length of 22 kilometers, from Harmony Road in Oshawa, to the 35/115 toll road in Clarington.

It also includes a connection with the 401 toll road, via a new link road of 10 kilometers.

 

Traffic and employmen on the GTAH

This toll road will considerably improve traffic conditions on the GTAH (Greater Toronto and Hamilton Area). It is estimated that this project will generate several thousand jobs during the construction period.

Insuing of bonds

The consortium has issued two bonds to cover the investment. A short-term one for 264 million US Canadian dollars and another long-term one for 108 million. In addition, a revolving credit facility for 405 million will be signed.

Availability payment

The 407 East Phase 2 is an availability project; it is a toll road, while the concession company will obtain its income through the availability payment method, for its maintenance. The Government of Ontario will set the prices and collect the revenues.

 
 
  • TypeDescription
    Concession companyBlackbird Infrastructure
    LocationToronto, Ontario
    ClientInfrastructure Ontario
    Ownership structure

    50% Cintra Infraestructuras Internacional S.A.
    50% Holcim (Canada) Inc.

    Date of opening to trafficEnd of 2017
    Start of the concession2015
    End of the concession2047
    Concession term30 años
    Concession purposeDesign, construction, funding and maintenance
    Total managed investment642 M€
    Jobs generated1.000
    Toll road length32 km
    Number of lanes2 lanes in each direction
    Concession companyelectronic
    Payment methodsAvailability payment
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