McLoughlin Point Wastewater Treatment Plant reaches financial close

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McLoughlin Point Wastewater Treatment Plant reaches financial close

Harbour Resource Partners (HRP) has reached financial close on the McLoughlin Point Wastewater Treatment Plant P3 project.

As we reported in early May, the Seaterra Commission has announced that  Harbour Resource Partners (HRP) has been selected as the preferred proponent to design, build and partially finance a Wastewater Treatment Plant at McLoughlin Point in British Columbia, Canada.

HRP is a consortium formed by AECOM Canada, Graham Infrastructure, CEI, SUEZ North America (SENA), Gracorp and Michels Canada.

The consortium beat out competition from two other consortia led by Dragados Canada and PCL Constructors Westcoast Inc.

The project does not have the necessary approval to be built on the site and the contract will not be signed until the site is confirmed. Details including costs, architectural and technical details will be released after a final agreement is reached. 

Construction of the 108 megalitre/day tertiary wastewater treatment plant and the undersea forcemain, stretching from Ogden Point to McLoughlin Point, will now begin in the spring 2017. The wastewater treatment project will be complete by the end of 2020, and will include construction activities in Esquimalt, Oak Bay, Saanich, and Victoria. The project is designed to minimize visual impacts from the water and includes a multi-level green roof, mature landscaping, observation deck and multi-use education space.

The Operis advisory team provided financial modelling and advisory services to HRP, as well as due diligence services of the financial model, from bid submission through to financial close.

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