News

CP Sells Stakes in Detroit-Windsor Tunnel

By ReNew Canada 10:05AM April 01, 2009

41


0


Read Later

Canadian Pacific Railway Ltd. is selling 67 per cent of its stake in the Detroit-Windsor Tunnel crossing to Borealis Infrastructure Management Ltd. for $132 million.

The CBC reports that Borealis, which manages infrastructure projects for OMERS pension fund, will pay $110 million now and another $22 million, depending on traffic volumes, for 33.5 percentage points of CP Rail’s ownership portion in the tunnel.

“The Detroit River tunnel is an investment that fits into our long-term strategy of securing infrastructure assets that can generate stable and sustainable returns for OMERS plan members,” said OMERS President and CEO, Michael Nobrega.

Suggested News Articles

News, OntarioFeb. 23, 2018
Read Later

RFQ issued for Halton Region Consolidated Courthouse

Infrastructure Ontario (IO) and the Ministry of the Attorney General (MAG) have issued a request for qualifications (RFQ) for interested parties to design, build, finance, and maintain a new Halton…
News, OntarioFeb. 23, 2018
Read Later

Government provides land for new Ottawa hospital

The Government of Canada announced that it has signed a 99 year ground lease to The Ottawa Hospital. The Hospital will use approximately 20 hectares of federal land, located along…
News, OntarioFeb. 23, 2018
Read Later

RFP issued for the Macdonald Block Reconstruction Project

Infrastructure Ontario (IO) has issued a Request for Proposals (RFP) to three shortlisted teams to design, build, finance and maintain the Macdonald Block Complex. The 45-year old Macdonald Block, a…

Comments

0