Project will provide an enhanced freeway route into York Region north of Toronto
TORONTO—Infrastructure Ontario (IO) and the Ministry of Transportation (MTO) announced today that LINK 427 has signed a fixed-priced contract to design, build, finance and maintain the Highway 427 expansion project.
The contract value of the Highway 427 expansion project is approximately $616M, which reflects payments to be made during construction, the substantial completion payment and the monthly service payments before inflation adjustments. Ongoing maintenance and repairs will ensure Highway 427 is kept in good condition over the contract term.
LINK 427 will focus on design work, and construction is expected to follow in 2017 with completion occurring in 2021. The Highway 427 expansion project includes a new 6.6-km extension from Highway 7 to Major Mackenzie Drive with:
It also includes a four-km road widening from Finch Avenue to Highway 7 with:
Once construction is complete, LINK 427 will receive a substantial completion payment, followed by a series of monthly payments from the Province over a 30-year period. The 30-year period commences when construction is complete. These monthly payments cover routine maintenance, construction, lifecycle repair and renewal of the highway as well as project financing.
LINK 427’s team includes:
LINK 427 estimates the majority of the labour will come from the Greater Toronto Area. There will be 250 workers on site at the peak of construction.
The Highway 427 expansion project underwent an open, fair and competitive procurement process overseen by a third party fairness advisor. LINK 427 submitted the proposal which delivers the best value for Ontario taxpayers.