Proposed Massey Tunnel Bridge Replacement Is Now Said To Be $8 Billion More!

$8 billion is a lot of ‘spreadin around‘ money and $8 billion for one bridge seems a tad pricey.

This bridge is not about traffic congestion or better transportation, this bridge is a gift to the Vancouver Port Authority so massive Panama Max. and Cape Max. colliers and tankers can navigate up the Fraser to load LNG, American Brakken Oil and thermal coal at Surrey Fraser Docks.

At present, the tunnel acts as a dike, preventing deep draft vessels up the Fraser.

Memo to Delta Mayor Lois Jackson: Stop taking orders from Victoria and do what is best for Delta and reject the bridge.

Memo to Liberal candidate Ian Patton: Isn’t this bridge a little pricey so farmers can take their farm machinery to Richmond?

Memo to transit users: $8 billion could buy one hell of a lot of public transit in the region.

Memo to South Delta voters: you are being duped as:

  1. The new bridge will only move gridlock a few km North. Gridlock will be massive crossing the North Arm of the Fraser River to Vancouver.
  2. LRT is not being planned to South Delta, as it has never been planned for nor is there any money to make it happen. This promise makes nice “elect me” stories, which are nothing more than massive fibs.
  3. If the Liberals really wanted to improve transit in South Delta, compel TransLink to bring back the direct express buses that went from South Delta to Vancouver, without forcing people to transfer to the Canada Line in Richmond. It is, what the transit customer wants.

 

 

 

BC NDP say George Massey Tunnel replacement will cost $8-billion

Vancouver, BC, Canada / News Talk 980 CKNW | Vancouver’s News. Vancouver’s Talk
Posted: May 05, 2017

BC NDP say George Massey Tunnel replacement will cost $8-billion

 

A leaked document released by the BC NDP says the George Massey Tunnel replacement bridge will cost a lot more to finance the project than the promised $3.5-billion.

The document shows total interest costs from 2017 to 2068 are forecasted to be $8-billion.

That figure includes long-term bonds, short-term loans, and borrowing from a private partner.

In a statement, the BC Liberals fired back admitting to a loan but didn’t reference an amount.

READ MORE: Construction on controversial Massey Tunnel replacement to officially begin

Delta’s mayor Lois Jackson has been in favour of the project and says playing politics over this project before an election is wrong.

“They are playing politics with this and I think it is very wrong, as a Mayor’s council, that they are taking a position of this nature,” says Jackson.

“It’s election time and I really don’t believe the figures…Sorry.”

Construction on the project began last month.

 

Comments

4 Responses to “Proposed Massey Tunnel Bridge Replacement Is Now Said To Be $8 Billion More!”
  1. r says:

    Who is the private partner?.Advantage BC member

    Bakken region companies?

  2. eric chris says:

    Breaking news: the LNG dream is dead. This bridge for LNG tankers to reach the LNG plant being built in Delta is dead.

    Allowing the LNG plant in Delta to be built in heavily populated Delta is obtuse. Politics in BC is corrupt.

  3. Richard says:

    Its not $8 billion. That is only the financing costs. Add the cost of the bridge at at least $3.5 billion and the total cost is closer to $12 billion as stated in this article. It is a good idea to do just a bit of research before posting.

    http://vancouversun.com/news/local-news/financing-costs-for-massey-tunnel-replacement-total-8-billion-on-3-5-billion-project

    Zwei replies: $12 billion just becomes unbelievable.

  4. Haveacow says:

    The $8 Billion is financing cost over 51 years and if you have a mortgage on your house, those kinds of financing costs, over that length of time, should not surprise anyone. But the original point made by Zwei is still very important here. Whether it is $3.5, $8 or $12 Billion these numbers would purchase a lot of rapid transit, regardless of the time scale. Did the government of BC ever cost out the possibility of building a brand new tunnel or expanding the original? This would make a fascinating comparison for the news, I think!

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