CORRECTION: CHMC on 407

TRnl#40 June 1999 reported that OTCC “never apparently signed a contract with CHMC...” CHIC sub Canadian Highways Management Corp (CHMC) tells us that it has a 30 year maintenance contract on 407-ETR with the provincial OTCC, and that the new owner has assumed the obligation to honor that contract. The contract does provide however for cancellation in several contingencies. The prospectus of the 407 ETR Concession company says: “Subject to earlier termination, the (operating contract with CHMC) will terminate on Jan 1, 2020.” (p19) That is 23 years. But for the moment the owners and CHMC are apparently getting along fine and no changes are planned.