Graham Commuter Partners has achieved financial closure for the North Commuter Parkway and Traffic Bridge Replacement PPP project in Saskatchewan, Canada.
The total project investment is estimated at CAD$252.6 million (US$192.5 million). Through the P3 Canada Fund, the federal government is providing an investment of up to CAD$66 million to the project, while the Province of Saskatchewan will contribute CAD$50 million. According to sources, final project financing details won't be released until next month.
The North Commuter Parkway Project includes a six-lane bridge and 8.3 kilometres of new arterial roadways to link the Marquis Industrial area with the University Heights area. The new Traffic Bridge will include two driving lanes at 3.7 metres wide, and two 3 metre-wide multi-use pathways on each side of the bridge to accommodate pedestrians and cyclists.
The project will be developed on a design, build, finance, operation and maintenance (DBFOM) basis. The contract will have a period of 30 years.
Dan Willems, Special Projects Manager with Major Projects, stated:
"This was a very competitive procurement process and we thank each of the three proponents for their submissions. Graham Commuter Partners will build the bridges and roadways based on approved technical requirements and project design parameters, as well as finance and maintain the new infrastructure for a period of 30 years. The City retains ownership of all infrastructure."
Mayor Donald Atchison commented:
"The Parkway Bridge will connect the growing neighbourhoods in the northeast with the employment rich areas of Marquis Industrial," says Mayor Donald Atchison. "The new Traffic Bridge will improve travel efficiency in our growing downtown. Both projects will create jobs for local workers and strengthen our economy."