Meets 60-day deadline for announcement
With headquarters to be located in Thunder Bay, the Ring of Fire Infrastructure Development Corporation will work to bring First Nations and the public and private sectors together to create partnerships and facilitate investment decisions in strategic transportation infrastructure.
This includes working with key partners including First Nations, industry, communities, and the federal government, to formalize partnerships through the corporation, and overseeing an economic and technical baseline feasibility report on transportation infrastructure.
As participation in the corporation evolves, the board of directors will be broadened to include membership from First Nations and industry partners.
In its mature state, the corporation will be in a position to advise on crucial infrastructure investment decisions, the province said in a news release, including how to best use Ontario's $1 billion dollar commitment to Ring of Fire infrastructure.
More information to come.