Who owns the 407?
Asked by: Jaylon Rice | Last update: February 20, 2025Score: 4.7/5 (37 votes)
Who owns the 407 highway?
407 ETR – Financial Information
The Company is owned by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 50.01%), also known as CPP Investments; Cintra Global S.E., a wholly owned subsidiary of Ferrovial S. A. (43.23%); and AtkinsRéalis Canada Inc., formerly SNC-Lavalin Inc. (6.76%).
When did CPP buy 407?
Toronto, ON (October 5, 2010) – The CPP Investment Board (CPPIB) announced today it has reached an agreement with Cintra Infraestructuras, S.A., a Ferrovial subsidiary, to acquire 10% of 407 Express Toll Route (ETR) for C$894 million.
How to pay tolls on Canada 407?
- Online.
- Through pre-authorized payments.
- Through your financial institution's online banking, telephone banking, or at the teller using your 407 account number.
- By cheque.
- By telephone.
What is 407 ETR bill?
407 ETR establishes the tolls and fees for Highway 407 ETR. Your 407 ETR transponder is valid on any toll highway in Ontario – including Highway 407 and 407 ETR. All of your tolls are reflected on one bill from 407 ETR and revenue for the provincially-operated toll highways is passed back to the Government of Ontario.
Ontario is considering buying back Hwy. 407. How would that work?
Do Americans have to pay 407 toll?
Yes, all customers using Highway 407 are responsible for tolls and charges incurred from driving on the highway.
What is the difference between the 407 and the 407 ETR?
Although connected to 407 ETR, Highway 407 is a provincially owned tolled highway. To ensure a seamless experience for users of both highways, 407 ETR, provides tolling and customer services on the province's behalf for Highway 407.
Do Americans have to pay tolls in Canada?
Yes, there are a number of toll roads and bridges in Canada. If you are planning on traveling in Ontario, Quebec, Nova Scotia or Prince Edward Island you may be required to pay a toll on certain roads.
Does US E-ZPass work in Canada?
E-ZPass is generally not accepted in Canada but several exceptions exist. Until 2005, drivers crossing the Peace Bridge between Fort Erie, Ontario, and Buffalo, New York, paid a toll before crossing to Canada.
Who is CPP owned by?
CPP Investments is a Crown Corporation that operates independently of government; its sole aim is to invest the funds and maximize results without undue risk.
Where is 407 International headquarters?
407 ETR is headquartered in Woodbridge, Canada.
Is the CPP fully funded?
This system is a hybrid between a fully funded one and a "pay-as-you-go" plan. In other words, assets held in the CPP fund are by themselves insufficient to pay for all future benefits accrued to date but sufficient to prevent contributions from rising any further.
What country owns the 407 in Canada?
407 International Inc. is currently owned by: Canadian Pension Plan Investment Board, the Crown corporation responsible for public employees retirement and Old Age Security (OAS) (50.01%) Cintra, a publicly-traded Spanish toll road and parking lot company (43.23%)
Do you have to pay to cross the border from US to Canada?
Do I have to pay a fee to cross the border? There is no fee to visit a Duty Free store, however there is a border crossing toll charge at select border crossings. You can pay in Canadian or U.S. currency.
How do Canadians pay I 90 tolls?
To pay US tolls from Canada, you have to voluntarily mail the money to the concerned toll authority or pay it online on their website. The toll authority can also send you an invoice with a penalty (depending on if your province shares plate owner's information with them).
Why are toll roads so expensive?
Governments worldwide use tolling to pay for road construction and maintenance. The money collected from toll roads provides an alternative funding source when traditional options fall short.
How do Americans pay tolls in Canada?
CASH ($): payment in US$ (exact change) or to the cashier in some tollbooths. Transponder: if you have a transponder they accept (E-ZPass, Uni, or SunPass PRO, for instance). Important: If you use the transponder lane and don't have a transponder, you'll have to pay a fine as well as your toll.
How does the 407 work in Canada?
As there are no toll booths, the electronic highways operate with a system of gantries at highway entrances and exits, designed to accurately record all trips through a vehicle's windshield-mounted transponder, or for those without a transponder by recording the license plate.
Where does the CPP money go?
Contributions are first used to pay CPP benefits to retirees and other beneficiaries while the remaining money is channeled to CPP Investments and is invested in the CPP Fund.
What is the retirement age in Canada?
The standard age to start the pension is 65. However, you can start receiving it as early as age 60 or as late as age 70. If you start receiving your pension earlier, the monthly amount you'll receive will be smaller. If you decide to start later, you'll receive a larger monthly amount.
Is CPP public or private?
CPP Investments operates in the public markets through several investment methods. This includes publicly traded equity and fixed income securities, as well as listed and over-the-counter derivatives that are based upon the price of these assets, commodities, currencies and interest rates.
Who is the CEO of 407 ETR?
Javier Tamargo, President & Chief Executive Officer
Mr. Tamargo was appointed as President & Chief Executive Officer (CEO) on September 4, 2020. He has over 20 years of international experience in civil engineering and global infrastructure asset management. Mr.