VINCI signs a P3 contract for the Regina Bypass Project in the province of Saskatchewan (Canada)
5 August 2015 - 5:35 pm - New contracts - Canada
- A project totaling approximately $CAN 1.9 billion (€1.3 billion)
- A P3 contract with a term of 30 years
- The first transport infrastructure project to be completed in a public-private partnership scheme in the province of Saskatchewan
Regina Bypass Partners, a (37.5%) subsidiary of VINCI Concessions, in partnership with Parsons Enterprises (25%), Connor Clark & Lunn GVest fund (25%) and Gracorp Capital (12.5%) has signed with the Saskatchewan Ministry of Highways and Infrastructure a Public-Private Partnership contract with a term of 30 years for the completion and operation of the highway bypass of Regina, the capital city of the province of Saskatchewan in Canada.
The project, which represents a total investment of approximately $CAN 1.9 billion (€1.3 billion), involves the design, financing, construction, operation and maintenance of the 61 kilometers - 2x2 lanes – of the Regina Bypass, including 37 kilometers of new construction, 24 kilometers to be renovated and 12 interchanges, together with their access roads and 38 civil engineering structures, for a total of approximately 400 lane-km.
The construction works will last about 4 years. It will be carried out by Regina Bypass Design–Builders, a joint venture consisting of Carmacks Enterprises Ltd. (18.75%) – a wholly-owned subsidiary of Eurovia, VINCI Construction Terrassement (18.75%), Graham Infrastructure LP (37.5%) and Parsons Canada Ltd. (25%). After construction is completed, the motorway will be operated and maintained by Regina Bypass Operations and Maintenance, a wholly owned subsidiary of VINCI, for a period of 30 years.
Regina Bypass Partners will receive payments during the operating period based on availability of the highway infrastructure.
The Regina Bypass is the first transport infrastructure project to be completed in a public-private partnership scheme in the province of Saskatchewan. The bypass is part of the Trans-Canada Highway 1, which crosses the continent and plays an important role in movement of goods. It will also improve mobility by speeding up traffic flows and will increase traffic safety around the city of Regina.
VINCI is a global player in concessions and contracting, employing more than 222,000 peoplein nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.