Financial close on CAD 967m bridge PPP project in Canada

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Financial close on CAD 967m bridge PPP project in Canada

Aecon Group announced earlier this week that Fraser Crossing Partners has reached financial close on the Pattullo Bridge Replacement Project in British Columbia. The total contract is valued at CAD 967.5 million (US$ 727.58 million). 

Fraser Crossing Partners, selected by the Province of British Columbia to design, build and partially finance the project, is a 50/50 joint venture between Aecon and Acciona.

The new four-lane cable-stayed bridge over the Fraser River will provide network connections to New Westminster and Surrey, feature a centre safety median barrier and wider lanes to accommodate both passenger and commercial vehicles, and have dedicated walking and cycling lanes. The project also includes the construction of connecting roadways on the north and south sides of the bridge, grade separations on Highway 17, and the removal of the existing bridge once the new bridge is complete.

Early construction activities are expected to commence in the first quarter of 2020, with the new bridge expected to open in 2023, and full project completion expected in the fourth quarter of 2025, following the removal of the existing bridge.

President and Chief Executive Officer, Aecon Group Inc said: "The Pattullo Bridge Replacement is one of the largest infrastructure projects in British Columbia and Aecon is pleased to work with Acciona and our valued client to improve the mobility of commuters, cyclists and pedestrians between surrounding communities."

Fraser Crossing Partners team includes:

  • Acciona Construccion S.A.;
  • Acciona Infrastructure Canada Inc.;
  • Aecon Group Inc.;
  • Aecon Constructors, a division of Aecon Construction Group Inc.;
  • Leonhardt, Andra und Partner Beratende Ingenieure VBI AG;
  • Hatch Corporation; and
  • EXP Services Inc.

 

Download our free Canada PPP Market report:

https://www.infrapppworld.com/report/canada-ppp-market-2019

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