Queen’s Park announces massive $9B plan to expand GTA transit

By Hercules Kataveli, B2P
Published on Thursday April 2, 2009 at 2:04 pm ET
Updated 03-12-10, 3:50 pm ET

Queen’s Park has just announced am ambitious $9 billion plan to expand the Greater Toronto Area transit system. The Toronto Transit Commission (TTC) has already been drafting euro-style rail lines for years now.

The money will be used to build a new 33km light rail system moving across Eglinton Avenue from the Kennedy subway station in the city’s east end all the way to Pearson International Airport that is scheduled for completion by 2013. 

The 30-year old Scarborough Rapid Transit system will also be improved and extended by 2015 costing $1.4 billion.

Another rail system from Finch Ave starting from the Yonge subway station traveling west to highway 27 and east to Don Mills subway station will also be completed by 2013.

York Region will also benefit from the $9 billion earmarked for public transit with new buses scheduled to be in service by 2013.

Ontario Premier Dalton McGuinty said yesterday during the announcement the plan is, “the most ambitious project of its kind in Canadian history,”

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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
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