On March 21, 2012, Ontario’s ministry of transportation, along with Infrastructure Ontario, announced the selection of the preferred bidder for the highway 407 East extension. The contract is a design, build, finance, and maintain model, with the province acting as the operator of the new extension.
The 407 East Development Group won the contract and consists of a consortium of companies including SNC Lavalin and Cintra Infraestructuras S. A.. Both are the current lease holders on the existing 407 highway. In a considerable diversion from the current operating model, the province will retain full control over fees and operations of the highway. The existing section of the 407 was sold by the previous government for a one time fee, in exchange for a 99 year lease.
Infrastructure Ontario and the ministry of transportation are currently in negotiations with the preferred bidders and they are expected to wrap up in the spring of 2012. According to transportation and infrastructure minister Bob Chiarelli “Today is an important step forward in our commitment to extend Highway 407 East. This project is part of the McGuinty government’s long-term infrastructure plan and demonstrates our commitment to creating jobs, strengthening the economy and building strong communities.”