Transportation Investment Corporation

Transportation Investment Corporation (TI Corp) is a public crown corporation, established in 2008 under the Transportation Investment Act, to implement the Port Mann/Highway 1 Improvement Project, including construction, operations and maintenance of 37 kilometres (23 mi) of improvements to the TransCanada Highway through Metro Vancouver, as well as development, implementation and management of tolling operations to pay for the project. Starting September 1, 2017, the crown corporation stopped tolling traffic on the bridge, due to a new provincial government.[3] Debt service was transferred to the province of British Columbia at a cost of $135 million per year.[4]

Transportation Investment Corporation
TypeCrown Corporation
IndustryTransportation
Tolling
Founded2008
HeadquartersCoquitlam, British Columbia, Canada
Area served
British Columbia
Key people
Irene Kerr (President and CEO)[1]
Revenue C$122 million (2015)[2]
Total assets C$3.24 billion (2015)[2]
OwnerGovernment of British Columbia
Number of employees
40 (2015)[2]
Websiteticorp.ca

Overview

TReO was the official toll operating brand and registered trademark of Transportation Investment Corporation.

TI Corp's primary mandate was to manage and ensure successful delivery and implementation of the Port Mann/Highway1 Improvement Project. TI Corp is also mandated to recover the capital costs of the project as well as operating and maintenance costs of the bridge and highway for a period of up to 40 years.

Traffic
Total monthly traffic (millions)[5]20142015201620172018
January2.662.742.893.084.21
February2.422.632.892.793.70
March2.712.903.163.414.52
April2.832.943.273.294.45
May2.983.113.843.584.79
June2.953.173.823.574.67
July3.183.244.003.754.84
August3.253.214.083.794.95
September3.023.123.434.364.64
October3.053.233.364.494.87
November2.772.953.234.24
December2.853.023.014.15

Port Mann/Highway 1 Improvement Project

The span of this project comprises the Vancouver area's primary goods movement and commuting corridor, serving 120,000 vehicles daily through six municipalities, with important connections to other communities throughout the region. The project was established in 2003 as part of the Provincial Gateway Program to address the problem of growing regional congestion and to improve the movement of people, goods and transit.[6]

References
  1. Mooney, Harrison (August 11, 2017). "Four of five members on board overseeing Port Mann Bridge tolls removed". The Vancouver Sun. Retrieved September 2, 2017.
  2. TI Corp (2015), Transportation Investment Corporation Annual Report 2014/2015, retrieved September 29, 2015
  3. Lindsay, Bethany (August 25, 2017). "Tolls to be eliminated on Port Mann and Golden Ears bridges". CBC News. Retrieved September 3, 2017.
  4. "Tolls to be eliminated on Port Mann and Golden Ears bridges". Retrieved August 25, 2017.
  5. TI Corp (August 2017), Port Mann Bridge Traffic, retrieved September 3, 2017
  6. TI Corp (November 2017), Port Mann/Highway 1 Improvement Project
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.