Ontario Transportation Minister Glen Murray was in London Wednesday announcing a plan to look into connecting London, Kitchener-Waterloo, Pearson International Airport and Toronto with high-speed rail.
Murray says "We have to build and imagine and dream things we never dreamt before. Even Buffalo has a high speed rail coming soon."
The province says the rail line would improve travel options, reduce travel times and support economic development, and the effects would trickle down to Chatham and Windsor as well.
The trains would travel at 320 km/h, with 28 trains running from London to Toronto daily.
While it could cost over $2 billion to build, Murray adds that the revenue stream generated could be about $500 million annually.
The funding from the province will come from a 10-year, $29-billion 'Moving Ontario Forward' fund, but Murray hopes the federal government will also contribute.
The province is planning to finalize the business case and begin an environmental assessment by the fall of 2014, with the hopes of opening the high-speed rail line to passengers in eight years.
The assessment would include identifying appropriate routes and examining technology options.
Deb Matthews, MPP for London North Centre, said in a statement “High speed rail connecting London, Kitchener-Waterloo and Toronto would be a tremendous economic boost to southwest Ontario. It would reduce gridlock, create jobs and help people spend more time with their families and less time on the road.”
