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.
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.
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.
|Concession company||Blackbird Infrastructure|
50% Cintra Infraestructuras Internacional S.A.
|Date of opening to traffic||End of 2017|
|Start of the concession||2015|
|End of the concession||2047|
|Concession term||30 años|
|Concession purpose||Design, construction, funding and maintenance|
|Total managed investment||642 M€|
|Toll road length||32 km|
|Number of lanes||2 lanes in each direction|
|Payment methods||Availability payment|