Who owns the toll roads in Ontario?
Table of Contents
Who owns the toll roads in Ontario?
Cintra Global S.E.
As of August 2019, ownership of the 407 ETR Concession Company Limited (“407 ETR”), the operator/manager of the highway, is as follows: Indirectly owned subsidiaries of Canada Pension Plan Investment Board 50.01\% Cintra Global S.E., a subsidiary of Spanish firm Ferrovial S.A. 43.23\% SNC Lavalin 6.76\%
Who owns the 407 toll road in Ontario?
The Company is owned by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 50.01\%), also known as CPP Investments; Cintra Global S.E., a wholly owned subsidiary of Ferrovial S. A. (43.23\%); and SNC-Lavalin (6.76\%).
Does Spain own the 407?
The 407 is owned by Spain’s Cintra Global S.E., a subsidiary of Ferrovial, which owns a 43.23 per cent stake. Indirectly owned subsidiaries of the Canada Pension Plan Investment Board own 40 per cent of the highway, and, once Friday’s deal closes, OMERS will own 10.01 per cent and SNC-Lavalin 6.76 per cent.
What does the 407 cost?
Complete Fee Details
| Fee | Light Vehicle (5,000 kg and under) | Heavy Single Unit Vehicle |
|---|---|---|
| Camera Charge (Camera Recorded Trip) | $4.20 per Trip | $50.00 per Trip |
| Trip Toll Charge (This is not a per kilometre charge, applicable for trips including travel on 407 ETR only). | $1.00 per Trip | $2.00 per Trip |
Who sold Highway 407?
Just how bad a deal the government had struck first became evident two years later when SNC-Lavalin sold part of its 407 holding in a transaction which showed that the value of the highway had already more than doubled to $6.3 billion — a fraction of what it would later be worth.
Is the 412 still free?
Toll rates for Highways 412 and 418 will be temporarily frozen at their current levels until May 31, 2023. Toll rates for the provincially-owned Highway 407 remain temporarily frozen until May 31, 2021 and will increase based on the Consumer Price Index on June 1, 2021.
Is Ontario 412 a toll road?
Yes. Highway 412 and Highway 418 are toll highways. Highway 412 connects Highway 407 to Highway 401 in Whitby. The toll rates are consistent between Highway 407, Highway 412, and Highway 418.
Does the 407 connect to the 115?
The Highway 407 East Phase 2 project extends Highway 407 about 22 kilometers from Harmony Road in Oshawa to Highway 35/115 in Clarington and connects Highways 401 and 407 with Highway 418 that serves as a north-south freeway.
Which political party sold the 407?
The Tory government
The Tory government has sold highway 407 for $3.1 billion dollars. The sale of the electronic toll road that runs just north of Toronto is being called the biggest privatization deal ever made in North America.
Who owns and operates the toll roads?
Who owns and operates The Toll Roads? The Toll Roads are owned by the state of California and operated by The Transportation Corridor Agencies (TCA). TCA is comprised of two Joint Powers Authorities formed by the California legislature in 1986 to plan, finance, construct and operate the 73, 133, 241 and 261 Toll Roads in Orange County.
What’s new in Ontario for toll drivers?
Ontario is taking steps to provide immediate relief for those who use any of the provincially-owned and operated toll highways. The following measures are now in effect: Toll rates for Highways 412 and 418 will be temporarily frozen at their current levels until May 31, 2023.
Who sets the tolls and fees on the 407?
The Government of Ontario sets and regulates tolls and fees on the provincially-owned Highways 407, 412 and 418. As a private company, 407 ETR is solely responsible for establishing the tolls and fees for Highway 407 ETR. Changes to 407 ETR toll rates and structure has no impact on the provincially-owned toll Highways 407, 412 and 418.
How many toll roads does Cintra have?
Cintra hopes to grow their total tally to seven toll roads in the near future. A new deal is being drawn up by Cintra’s parent company, Ferrovial, in hopes of building a new toll road parallel to U.S. 460 in Virginia’s port region.