Transportation · ON/QC · #2 of 131 disclosed prospectus tickets

Alto High-Speed Rail (Toronto–Québec City)

Summit deal plate Transformative strategy

~1,000 km; 63,000 homes; 51,000 jobs; +C$24.5B GDP/yr at maturity (Alto est.)

At a glance

Proponent: Alto (Crown corp.) + Cadence consortium
Capex (as printed): C$60B – C$90B C$ source
Capex (US$, midpoint): US$44B – US$66B
Stage: Advanced / FEED
Location: 45.50°N, 73.60°W
Summit deal plate: Yes — in the 167-project prospectus pitched Sept 14–15 2026
Fast-track list: No MPO referral on record
Transformative strategy: Yes — corridor-scale program developed with the province

Project location and corridor alignment.

Listed: C$60–90B (Alto); C$45–75B enhanced-conventional alternative. C$ ranges anchored on the comparables under each bar.

Guideway, earthworks, bridges & tunnels

C$30B – C$45B

C$30–45M/km on European HSR benchmarks; Canadian Shield and urban approaches at the high end

Stations & urban approaches

C$6B – C$10B

Seven stations incl. downtown Toronto and Montréal integration

Track, electrification, signalling (ETCS)

C$6B – C$9B

Systems typically 10–12% of HSR capex

Rolling stock

C$3B – C$5B

~30–40 trainsets at C$80–120M each

Land, environmental & Indigenous agreements

C$2B – C$4B

Corridor acquisition through settled southern Ontario / Québec

Co-development, owner's costs & contingency

C$8B – C$12B

C$3.9B co-development plus 10–15% contingency

Sum of ranges

C$55B – C$85B

Route: Toronto – Peterborough – Ottawa – Montréal – Laval – Trois-Rivières – Québec City, ~1,000 km
Speed: 300 km/h+ on dedicated electrified track
Co-development: C$3.9B over 5–6 years with Cadence (CDPQ Infra, AtkinsRéalis, Keolis, Systra, SNCF, Air Canada)
First segment: Montréal–Ottawa (announced Dec 2025)
Impact (Alto): +C$24.5B GDP/yr at maturity, 51,000 construction jobs, 63,000 homes

Build 2028–2035 at 55% construction value-added, then 5% of capex per year operating. Peak US$3.8B/yr · cumulative 2026–40 US$42B.

Straight-line distance from the project point to the nearest vertex of each network layer.

Contrecœur Container Terminal	Marine & Port	47 km
Courant Project (H₂ + hydro for ammonium nitrate)	Clean Energy	126 km
Bécancour Battery Material Plant	Minerals & Metals	128 km
LFP Cathode Active Materials Plant	Clean Energy	132 km
Canadian Sovereign Magnesium Platform	Minerals & Metals	133 km

Deep Geological Repository (Ignace)	Feasibility / permitting	US$19B
Darlington New Nuclear (SMR ×4)	Under construction	US$15B
PowerCo (Volkswagen) Gigafactory	Under construction	US$5.1B
VIA Rail fleet — 313 cars (Thunder Bay)	Under construction	US$3.4B
Crawford Nickel	Advanced / FEED	US$2.0B
Via TWO (synthetic graphite)	Advanced / FEED	US$2.0B