Right now, Alto’s high‑speed rail project is estimated to cost between $60 and $90 billion. Our current estimate is based on the scale of the project and available research1, not on final designs or construction contracts.
We are in the planning and development stages. As the project moves forward and variables become more defined, the budget will be updated to reflect and consider new information.
What We Know about the Cost of High-Speed Rail
We know that our working assumptions will change over time. Early estimates on cost can vary based on the project scope, the route selected, and the cost of construction and materials at the time the project is undertaken.
How Alto is Funded
The project’s development and pre-construction phase is being funded by the Government of Canada through an investment of $3.9 billion over six years. Prior to this, the 2024-2025 Federal Budget provided $368.3 million over six years to Alto’s operations as a federal Crown corporation.
Moving forward, Alto will be funded through a blended model of private capital, fare revenues, and targeted public investment, with construction and operating risks shared with Cadence.
This major investment in Canada’s infrastructure is expected to deliver economic growth, environmental and social benefits, with long‑term revenues helping offset upfront costs.
The Government of Canada will remain the owner of the assets.
1 Based on the Class 5 guidelines set by the Association for the Advancement of Cost Engineering International (AACEi)