Infrastructure Ontario (IO) and the Ministry of Transportation (MTO) have announced that LINK 427, a consortium of engineering and infrastructure development companies, have signed a fixed-priced contract to design, build, finance and maintain the Highway 427 expansion project.

The LINK 427 is a consortium that includes companies such as, ACS Infrastructure Canada and Brennan Infrastructures who will serve as developers for the project and the construction works will be taken up by the Dragados Canada, Brennan Infrastructures, and Bot Infrastructure.

The MMM Group and Thurber Engineering will serve as designers and maintenance works will be taken up by the ACS Infrastructure Canada and Brennan Infrastructures.

"This is a critical local project that will create meaningful jobs and improve commute times for residents and businesses living and working in this region."

Ontario Minister of Transportation Steven Del Duca said: "We are very excited to have reached another important milestone in extending Highway 427.

"This is a critical local project that will create meaningful jobs and improve commute times for residents and businesses living and working in this region."

The contract value of the Highway 427 expansion project is nearly C$616m ($463m).

The Highway 427 expansion project includes a new 6.6km extension from Highway 7 to Major Mackenzie Drive with eight lanes from Highway 7 to Rutherford Road and six lanes from Rutherford Road to Major Mackenzie Drive.

LINK 427 will also build three interchanges at Langstaff Road, Rutherford Road and Major Mackenzie Drive, as well as new median High Occupancy Toll (HOT) lanes.

The consortium will also carry out a four-kilometer road widening from Finch Avenue to Highway 7, which will see conversion from six to eight lanes, Finch Avenue to the south of Steeles Avenue and from four to eight lanes, from south of Steeles Avenue to Highway 7, along with new median HOT lanes.

Infrastructure Ontario president and CEO Ehren Cory said: "We are pleased that a contract has been signed with LINK 427 and look forward to the start of work on this important project in the coming months."

The construction work is expected to begin later this year and is expected to be completed by 2021.

LINK 427 anticipates that majority of the labour will come from the Greater Toronto area.