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MARCH 14, 2011
Globalvia qualified to bid for highway 407 eastward extension contract
Highway 407 East is the major expressway project northeast of Toronto
Globalvia have been qualified for the Ontario Ministry Of Transport (Canada) to bid for a contract to extend a manage part of the 407 highway in Canada. The contract to finance, build and manage 22 kilometres highway extension to be called the 407 East will require investment of more than 1 billion euros. Globalvia will bid with OHL and Canadian pension fund Borealis.
The highway 407 East Extension will be completed in two phases. Phase one includes extension of Highway 407 East to Harmnony Road; Phase two of the extension will go all the way to Highway 35/115. A 10-kilometer West Durham Link to connect Highways 407 and 401 is part of the project. The west Durham Link will be located just east of Lakerridge Road. Phase one of the Highway East Extension includes six lanes from Brock Road to West Durham Link (approximately 10 kilometres) and four lanes from the West Durham Link to Harmony Road. In total, new lanes will total approximately 148 kilometres, with 10 interchanges.
The 407 ETR is considered one of the best infrastructure concessions worldwide. The road, which bypasses Toronto, has 108 kilometers long, almost 200 points of entry and exit, and one of the most advanced electronic toll systems in the world that the vehicles do not stop when passing through the toll.
Globalvia is the world's second largest infrastructure firm by number of concessions. It designs, builds, maintains and operates transport projects. Globalvia was founded in 2007. Its shareholders (50:50) are the environmental services company Fomento de Construcciones y Contratas SA and Caja Madrid one of Spain's largest savings bank. Globalvia´s 2010 turnover exceeded ?183,4 million, leaving a ?111,8 million EBITDA. Currently, the company headed by Juan Bejar, manages 39 projects of infrastructure between roads, railways, ports, airports and hospitals, although Globalvia will only concentrate in roads and rail projects in the near future.
For more information:
Director of Corporate Communications - Globalvia
+34 91 456 58 50
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