WINDSOR, Ont. — The new Gordie Howe Bridge that will link Windsor and Detroit may cost the Canadian government up to $3.5 billion more than expected, thanks to the low value of the loonie relative to the US dollar.
That’s according to a Canadian Press report citing documents obtained under an Access to Information request.
Documents warned Prime Minister Justin Trudeau that the cost of the bridge has increased at least $2 billion due to the declining value of the loonie, the Canadian Press reports. And the cost could go higher still if interest rates rise or the loonie depreciates further.
The Canadian government has agreed to fund the building of the bridge and will recover costs through vehicle tolls.
Bidding on construction of the bridge is set to begin in early 2016. You can read the Canadian Press report here.