PREMIER LAUNCHES CONSTRUCTION OF NEW PORT MANN BRIDGE

SURREY – The new Port Mann Bridge will be a single, 10-lane span, Premier Gordon Campbell and Transportation and Infrastructure Minister Kevin Falcon announced today as work began on the Port Mann-Highway 1 Project with the first pile for the bridge foundation being driven into the ground.

“The new Port Mann Bridge will be a first-class, state-of-the-art connector to clear traffic congestion on a critical transportation link across the Fraser River,” said Premier Campbell. “The new bridge will give truckers, transit users and commuters a faster, more efficient trip to and from their destinations, significantly cutting travel times and improving the movement of people, goods and services. Construction of this new bridge will also create 8,000 jobs, helping to keep British Columbians working.”

“Right now, congestion on the Port Mann Bridge is approaching 14 hours a day, and it’s harming our economy, our environment and quality of life,” said Falcon. “The Port Mann-Highway 1 Project will help travelers see a time savings of up to 30 per cent due to reduced congestion. This is time better spent at their workplace or with their families.”

The capital cost of the project, including upgrades to 37 km of Highway 1 on either side of the bridge, is approximately $2.46 billion. The total cost, including operating and maintenance, rehabilitation and interest, will be released when the contract is finalized but is expected to be approximately $3.3 billion. Of that, the Province is financing $1.15 billion in the form of a repayable loan, which is being matched by bank financing. The proponent is putting forward their own equity to pay for the remaining $1 billion.

The full cost of the project will be financed through electronic tolls, which will be $3 each way for cars. The government retains control of the rate of the tolls. The project is expected to be complete by 2013.

The new bridge will replace the existing 45-year-old bridge and provide badly needed capacity to meet current and future traffic demand, including a new RapidBus service that will allow commuters to travel all the way from Langley to Burnaby SkyTrain in 23 minutes. Once the new bridge is complete, the old bridge will be removed, saving at least $180 million in maintenance, rehabilitation and seismic upgrades that would have been required. The Port Mann-Highway 1 Project will provide for the first bus service across the Port Mann Bridge in over 20 years. In addition to RapidBus service, the new bridge will be built to accommodate potential light rapid transit at a future date, and it will expand networks for cyclists and pedestrians.

The project also includes widening Highway 1, upgrading interchanges, and improving access and safety from McGill Street in Vancouver to 216th Street in Langley, a distance of approximately 37 km. One lane of highway will be added in each direction west of the new bridge, and two lanes in each direction east of the bridge, one of which will be an HOV lane.

On Jan. 28, 2009, the government reached an agreement-in-principle with Connect BC Development Group for a public-private partnership (P-3) on this project. The Connect BC Development Group team includes the Macquarie Group, Transtoll Inc., Peter Kiewit Sons Co. and Flatiron Constructors Canada Limited. Financial close is expected in early March, at which time the final terms and conditions will be finalized. The Province will provide one-third of the financing, and Connect BC will fund two-thirds.

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Media contact:	Bridgitte Anderson Press Secretary Office of the Premier 604 307-7177	Dave Crebo Communications Director Ministry of Transportation and Infrastructure 250 387-7787

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