Doug Ford says ‘all options are on the table’ to fight congestion
Doug Ford had previously rejected the idea that the province buy the 407 back, including just over the past weekend.Ontario Premier Doug Ford says his government is not ruling out an attempt to buy back the privately-controlled Highway 407 toll road, a purchase meant to battle traffic in the Greater Toronto Area that could cost close to $29-billion.. Tunnel engineers have told The Globe and Mail that it could cost a minimum of between $60-billion to $120-billion at its full length.
“All options are on the table. Maybe both options,” he said, referring to the 407 buyback and the 401 tunnel proposal. “Let’s see.” Known as the 407 ETR , its current owners are the Canadian Pension Plan Investment Board, which holds a 50.01-per-cent stake; Cintra Infraestructuras, a subsidiary of Spain-based Ferrovial, which owns 43.23 per cent; and AtkinsRéalis, the former SNC-Lavalin, which owns 6.76 per cent but said in June it intends to sell its portion off.
Mr. Ford said he had brought his tunnel idea to “some of the largest unions in the country,” naming the Labourers’ International Union of North America, a large construction union that has vocally supported the Premier.
Toronto Government Tunnel Province Premier Lease Cent Gardiner Doug Ford Burlington
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