15:50:21 EDT Tue 14 May 2024
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SNC-Lavalin Group Inc
Symbol ATRL
Shares Issued 175,554,252
Close 2023-12-04 C$ 41.90
Market Cap C$ 7,355,723,159
Recent Sedar Documents

Globe says SNC's highway points to user-pay for roads

2023-12-05 09:07 ET - In the News

The Globe and Mail reports in its Tuesday edition that the City of Toronto has long begged the province to take the Don Valley Parkway and Gardiner Expressway off its hands, as finally happened last month. The Globe's Tony Keller writes that drivers enjoy expressways at zero cost to drivers, and a high cost to taxpayers. Ontario taxpayers may be assuming as much as $6.5-billion in costs over the next decade for the two roads, which Premier Doug Ford says will never be tolled. In other countries, however, highways are investable assets. Operated on the principle of user-pay, their tolls generate stable, predictable streams of income, and take costs off the backs of taxpayers. CPPIB owns stakes in toll highways in India and Mexico, and two huge highway projects in Sydney, Australia. In Canada, CPPIB owns 50 per cent of the 407 ETR expressway north of Toronto. When SNC sold a 10-per-cent stake in the project in 2019, the price was $3.25-billion -- implying a value of $32.5-billion for the 108-kilometre highway. It gives a sense of how much other Canadian highways would be worth, if they were tolled. Tolls on the Gardiner and Don Valley Parkway could probably cover the cost of building the Ontario Line subway.

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