OC Transpo draws up billions in capital investment
Even as OC Transpo is attempting to re-establish pre-strike ridershipnumbers, the company has drawn up a $3.8-billion bill for capitalinvestments over the next decade.
Even as OC Transpo is attempting to re-establish pre-strike ridership numbers, the company has drawn up a $3.8-billion bill for capital investments over the next decade.
Most of the money will be eaten up by a downtown tunnel and a light rail line from Tunney's Pasture to Blair Road, however OC Transpo is budgeting for $157.7 million this year, mostly on 105 new buses.
Forty-two of those new buses are intended for growth in 2009 and 63 are expected for 2010 to replace existing buses, at a total cost of $100 million.
Over the next 10 years, OC Transpo will spend around $737 million to purchase or refurbish buses.
OC Transpo general manager Alain Mercier said there is no indication to suggest that the strike or the economy would impact their long-term growth expectations.
OC Transpo is also spending $27.3 million for facilities and equipment in 2009 to upgrade O-Train facilities and replace outdated garage and office equipment.
Half of the projected funds -- $1.9 billion -- is expected to come from the federal and provincial governments.
Nearly $680 million of the city's portion of that money would come from debt financing.
The transit budget will be recast with updated strike revenue numbers in early March.