Port Mann Bridge complete, continues to lose money

SURREY (NEWS 1130) – The Port Mann Bridge and surrounding highway work is finally complete at a cost of $3.3-billion, but with less traffic going across than initially projected, it will continue to lose money for the foreseeable future.

If you’re one of the people who use the bridge despite the toll, Transportation Minister Todd Stone says survey’s indicate you’re saving an average of 40 minutes per day on your commute.

“We are seeing the traffic volumes are steadily increasing, as motorists are increasingly discovering the time savings and realizing how important that is,” says Stone.

Financially, though, the bridge hasn’t been as profitable as projected.

Initial forecasts pointed to annual revenue of $200-million.

While more people are crossing each month compared with the same period last year, there are still fewer people choosing to take this new bridge in comparison with the old bridge.

“On average, traffic volumes on the Port Mann Bridge for the last seven months are up five percent over each of those months in the previous year,” says Stone.

Despite the steady growth in people using the bridge, it’s expected to lose more than $300-million over the next three years.

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