Port Mann/Highway 1 Improvement Project

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Project Cost & Timing

HOW MUCH WILL THE PROJECT COST?

The total cost to build the PMH1 Project, including construction, operations and maintenance, rehabilitation and interest, will be approximately $3.3 billion.

All costs will be recovered by electronic tolls. This means that people who realize the benefits of travel time savings and reliability will pay for the project without taking taxpayer funding away from transit improvements and other government priorities.

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If the cost of the construction contract is $2.46 billion, why is the cost of the project estimated at $3.3 billion?

The total project cost of $3.3 billion includes construction costs as well as the cost of managing the project and overseeing the contractor, the tolling system and equipment, interest costs from the project debt and the purchase of properties along the corridor that are necessary for the wider highway and larger interchanges under construction.

TI Corp’s annual reports contain detailed financial information on past and current years as well as forecasts for the upcoming three years.

TI Corp's current Annual Report is available here.

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WHEN WILL THE PROJECT BE COMPLETE?

The project is proceeding on time and on budget. The new Port Mann Bridge will be operational in Winter 2012/13, and the rest of project will be finished in 2013. Removal of the old bridge is scheduled through to 2014.

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WHAT IS THE PMH1 IMPROVEMENT PROJECT AND WHAT DOES IT INVOLVE?

The Port Mann/Highway 1 Improvement Project includes construction of a new Port Mann Bridge, widening the highway, upgrading interchanges and improving access and safety on Highway 1. The project spans a distance of approximately 37 kilometres from the McGill Street Interchange in Vancouver to 216 Street in Langley.

In keeping with the Provincial Transit Plan and commitment to alternative transportation, the project includes congestion-reduction measures such as high occupancy vehicle lanes, transit and commercial vehicle priority measures and improvements to the cycling network.

The project will provide for a Highway 1 RapidBus service, a joint initiative of the Province and TransLink, with service between Langley and Burnaby in less than 25 minutes.

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WHY IS GOVERNMENT INVESTING IN THIS PROJECT?

The PMH1 corridor is the busiest and most economically critical route in Greater Vancouver. Built in the early 1960s when the population of Metro Vancouver was 800,000, it now serves as the most important east-west corridor to the region’s 2.2 million people. Traffic has increased to the point where the bridge is congested in both directions for more than 13 hours per day.

Once complete, the project will provide for a free-flow connection from Langley to Vancouver. The new Port Mann bridge, improved interchanges and widened highway will result in travel time savings of up to 50 per cent - saving drivers up to an hour per day. 

As a result of this project, transit buses can now cross the Port Mann Bridge for the first time in over 20 years. There will be reliable bus service across the bridge and convenient Park & Ride areas when the project opens, including a RapidBus service that will connect Coquitlam/Burnaby at the Lougheed Highway SkyTrain Station to Langley at 202 Street in about 25 minutes.

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How will TI Corp track and report toll revenue and debt repayment?

TI Corp operates under provincial requirements for Crown Corporations including publishing an annual Service Plan and an Annual Report, which includes financial statements that are prepared in accordance with Canadian accounting principles and independently audited by the British Columbia Auditor General.

In accordance with standard accounting practices, the service plan and annual report will continue to track revenues, expenses and total project debt.

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