The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

In addition to Monenco AGRA, the CHIC includes Dufferin Construction Company, Armbro Holdings Inc., M.M. “The strength of our consor- tium lies in the experience and qualifications of our individual members,” AGRA Industries president Alex Taylor said Thursday at a Toronto press con- ference. “The synergistic effect of the strategic alliance we have developed far exceeds the sum of our individual expertise, which is second to none in such projects, from designing roads, bridges and interchanges to state-of-the-art management and information sys- tems.” Monenco AGRA Inc. â€" whose head office is located in Oakvillc - is a subsidiary of AGRA Industries Limited. Also competing for the bid is the Ontario Road Development Corporation. Together with the CHIC, the two consortia represent more than 30 companies. According to Ministry of Transportation spokesman Anne McLaughlin, the project will cost “billions” (the exact figure depends on the winning bid) and is set to commence next year. She said as a result of provincial fund- ing commitments announced ear- lier this year, parts of the highway are already under construction. Traffic is expected to be using the initial section - Highway 400 to Highway 427 - by 1996. McLaughlin went on to explain that, ideally, the entire project will be completed by 1998. “We believe working with the private sector is the best way to improve our transportation net- work and reducc’the $2 billion annual cost of congestion in the Greater Toronto Area,” said Pouliot. “We look forward to see- ing the results of this first phase later this year.” The first phase will stretch from Highway 401 at Winston Churchill Boulevard in the west to Highway 48 in the east. When complete, the 58-kilometre, six- lane freeway will extend from Highway 403 in the west to Highway 35/115 in the east. By HOWARD MOZEL Oakville Beaver Stafi 407 Project. The group - which calls itself the Canadian Highways International Corporation (CHIC) - will submit a proposal to finance, design, construct and operate the first phase of the new toll road which will link Oakville and Markham. In total, the CHIC is comprised of nine Ontario- based engineering and construc- tion firms plus four financial companies. The new toll road project - unveiled Thursday by premier Bob Rae and Transportation Minister Gilles Pouliot - is designed to reduce traffic pres- sure on Highway 401, the-main transportation artery through the Greater Toronto Area and the sec- ond busiest freeway in North America. (It carries 350,000 vehi- cles a day.) Monenco-Agra bidding on new toll-road project akville’s Monenco AGRA Inc. will spearhead a new consortium in its bid to build the Highway Dillon Limited, Giffels Associates Limited, Matthews Group Limited, Proctor and Redfern Limited, The Foundation Company of Canada and Totten Sims Hubicki Associates. The financial team includes the Bank of Nova Scotia, ScotiaMcLeod, Barclays Bank of Canada and Gordon Capital Corporation. Construction of the highway is expected to create more than 26,000 jobs, Says Rae, and is the biggest single initiative sponsored by jobsOntarioCapital. It's pro- jected_ that the first phase will realize 1,400 jobs in 1993-94. “Joint venture development of the 407 toll highway will make it the largest contract of its kind in North America. Working together, we can create more jobs and a stronger economic recovery for Ontario. With the economies of scale and private financing avail- able to them, Highway 407 Each of the two groups will receive $1.5-mi11ion in jobsOntario funding toward the “This partnership will help us get Ontario back to work faster,” agreed Pouliot. “We will also speed up preparations for environ- mental assessments on the bal- ance of the 407 project so that we can improve highway service to the Oshawa area.” could be a reality in five years.” The proposals will be consid- ered based on such criteria as the layout of the interchanges and the number of lanes in a variety of sections. cost of preparing its submission. These will form the basis of a business plan for joint venture development of the 407, including a guaranteed maximum price for the project plus financing, a con- struction schedule and toll rates. go