$2.5bn plus investment in Canadian highway projects

Contracts worth a combined value of more than US$2.5billion have been awarded for two major Canadian highway construction projects. Spanish building firm, ACS, has been awarded a US$1.52billion contract to construct a new 27km eight-lane motorway. The contract also includes the operating of the road for 30 years. Meanwhile another Spanish construction firm, Ferrovial, working in association with SNC Lavalin, has been awarded the around US$1billion contract for the 20km extension of the Toronto 407 motorway

April 4, 2012 Read time: 1 min

Contracts worth a combined value of more than US$2.5billion have been awarded for two major Canadian highway construction projects.

Spanish building firm, 917 ACS, has been awarded a US$1.52billion contract to construct a new 27km eight-lane motorway. The contract also includes the operating of the road for 30 years.

Meanwhile another Spanish construction firm, 2717 Ferrovial, working in association with 2482 SNC Lavalin, has been awarded the around US$1billion contract for the 20km extension of the Toronto 407 motorway. The design, construction, financing and maintenance of the road for 30 years, following its scheduled opening in 2015, is all part of the contract. Ferrovial was also awarded the 407 ETR Toronto ring road project in 1999.

For more information on companies in this article

ACS

Ferrovial

SNC Lavalin

Ferrovial loses control of Canada’s 407 Express Toll Road

Ferrovial has lost control of the 407 International highway in Canada, one of the Spanish group's star assets. The Supreme Court in the province of Ontario has ruled in favour of co-shareholder pension fund Canada Pension Plan Investment Board to buy another stake - 10.01% - in the highway. The shares are up for sale by another shareholder, Montreal-based global infrastructure engineering firm SNC-Lavalin. The court denied Ferrovial, which already has the largest shareholding at 43% in the highway, th