TORONTO - The request for proposals stage has closed for companies to submit proposals to design, build, finance and maintain the Highway 407 East Phase 2 project.
Over the next several months, Infrastructure Ontario and the Ministry of Transportation will evaluate the proposals. The successful bidder and cost of the project will be announced publicly following financial close, which is expected by Spring 2015. Construction work is expected to begin shortly after.
Infrastructure Ontario and the Ministry of Transportation are working together to deliver both Phase 1 and Phase 2 of Highway 407 East which will remain publicly owned and controlled. Phase 1 is currently under construction.
Infrastructure Ontario is a Crown agency of the Province of Ontario that works to deliver public benefits through partnerships with the private sector. IO delivers large, complex public infrastructure projects using a made-in-Ontario modern procurement and project management practice called Alternative Financing and Procurement (AFP). Infrastructure Ontario also partners with the private sector to manage one of the largest real estate portfolios in Canada, provides municipalities and eligible public sector clients with loans to renew public infrastructure, and leverages its private sector expertise to advise the provincial public sector clients on commercial transactions.
Visit www.infrastructureontario.ca for more information.
Contacts:
Terence Foran
Infrastructure Ontario
416-325-2939
Bob Nichols
Ministry of Transportation
416-327-1158
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