Did you know that there is a version of The Construction Index for the USA? Visit the site No thanks
Follow us on Twitter Follow us on LinkedIn Follow us on Instagram
Daily construction news
Weekly plant news

Construction News

Wed December 07 2016

Related Information
Related Information
Related Information
Related Information

News » International » Ontario ring-fences further $3.2bn for infrastructure funding » published 1 Sep 2016

Ontario ring-fences further $3.2bn for infrastructure funding

The Canadian province of Ontario has allocated the CA$3.2bn (£1.9bn) proceeds from a sale of shares to a fund for infrastructure projects.

Sales of Hydro One shares have raised CA$3.2bn Above: Sales of Hydro One shares have raised CA$3.2bn

Ontario is planning to invest more than CA$160bn in public infrastructure over 12 years - the largest investment in the sector in the province's history. Since 2015, Ontario has announced support for more than 475 projects.

The money raised last year by the sale of some of the shares in electricity utility Hydro One is being put into the Trillium Trust to build key infrastructure projects and transportation across Ontario. The trust had already been allocated the CA$1.35bn net proceeds from Ontario’s sale of its shares in General Motors.

The province is on track to generate approximately CA$9 billion in gross proceeds and other revenue benefits from broadening the ownership of Hydro One, while remaining the largest single shareholder.

 

MPU

Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News, Contract News & Supplier News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 1 Sep 2016 (last updated on 1 Sep 2016).

More News Channels