The Canadian Government has provided funds of up to C$582.9m ($446m) for the Southwest Calgary Ring Road Project under the National Infrastructure Component of the New Building Canada Fund.

The project will ease congestion, reduce travel times and improve safety on the highway commonly known as the Stoney Trail.

Work under the project will include construction of 31km of highway, 46 bridges, and ten service-level and four multi-level major interchanges, and replacing a bridge over a CP Rail line.

"We want to ensure that infrastructure funding continues to flow in Alberta and across Canada."

The government said the project will boost the local and regional economy by generating more than C$800m ($613m) in labour income and increase traffic flow for tourists from the US.

Calgary Southeast member of parliament Jason Kenney said: "The government’s support for public infrastructure has never been stronger. We want to ensure that infrastructure funding continues to flow in Alberta and across Canada."

Following completion, the project will improve access for industrial producers and shippers transporting goods to British Columbia and Port Metro Vancouver via Highway 1.

The improvements carried out to the highway are expected to allow the Tsuu T’ina Nation to expand and diversify their economy.

The project will also provide new housing development space for the city of Calgary and increased services to support regional population growth.

Edmonton-Highlands-Norwood minister of transportation Brian Mason said: "The Southwest Calgary Ring Road is an important infrastructure project, enabling us to provide Albertans with a safe, modern highway network that will improve travel times in and around one of Canada’s most important cities and support economic growth in the province.

"Our government welcomes this investment from the government of Canada, and we look forward to working with all levels of government to deliver the vital transportation infrastructure that Albertans depend on."