407 ETR Opens New Lanes in Peel Region Months Ahead of Schedule
TORONTO, August 8, 2007
Expect faster trips and less congestion as 407 ETR today officially opened another 23 kilometres of new lanes between Highways 410 and 427 in Peel Region – three months ahead of schedule.
“We’re proud of our reputation as a fast, safe and reliable highway,” said Antonio de Santiago, President and Chief Executive Officer of 407 ETR. “We’re reinvesting toll dollars into more lanes to keep customers moving and are grateful for our contractors who worked so hard to get the job done in under five months.
“Not only will the additional lanes mean faster trips for our customers, it will also benefit the region’s economy by improving productivity,” added de Santiago, noting that the Toronto Board of Trade estimates that over $2 billion is lost each year due to congestion.
Another 27 kilometres of new lanes, between Highways 401 and 410, which are part of a $90 million expansion project is also ahead of schedule and will open in approximately four weeks.
“We appreciate our customers’ patience during this construction period, and hope we have exceeded their expectations with the opening of these new lanes,” says de Santiago.
In 2006, 53 kilometres of new lanes were constructed and opened on 407 ETR in York Region. The combined projects total over 103 kilometres of new lanes and cost over $180 million.
407 ETR Concession Company Limited (“407 ETR”) is the operator and manager of Highway 407, which extends 108 kilometres east-west, just north of Toronto. 407 International Inc., the sole shareholder of 407 ETR, is owned by a consortium comprised of Cintra Concesiones de Infraestructuras de Transporte, Macquarie Infrastructure Group and SNC-Lavalin.
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