TIN news: French firm Vinci Concessions-led consortium Regina Bypass Partners has signed a 30-year public private partnership (PPP) contract with the Saskatchewan Ministry of Highways and Infrastructure to build a highway bypass around the Canadian city of Regina.
With a share of 37.5%, Vinci leads the consortium that includes Parsons Enterprises with 25%, Connor Clark & Lunn GVest fund with 25% and Gracorp Capital with 12.5% stake.
The C$1.9bn ($1.44bn) Regina Bypass project was the first PPP transport infrastructure project in Saskatchewan.
As part of the contract, the consortium will design, finance, build, operate and maintain the bypass highway for 30 years.
"The consortium will design, finance, build, operate and maintain the bypass highway for 30 years."
The 61km Regina bypass comprises 2x2 lanes and will include 37km of new construction and 24km of renovation.
There will be 12 interchanges, together with their access roads and 38 civil engineering structures, for a total of 400km.
The project is part of Trans-Canada Highway 1, which crosses the continent and plays a major role in movement of goods, as well as improves mobility by speeding up traffic flows and increase traffic safety around the city of Regina.
Construction works, which is estimated to take four years for completion, will be carried out by Regina Bypass Design-Builders, a joint venture consisting of Carmacks, a wholly owned subsidiary of Eurovia, Vinci Construction Terrassement, Graham and Parsons Canada.
Following completion, Regina Bypass Operations and Maintenance, a wholly owned subsidiary of Vinci, will be responsible for operating and maintaining the motorway for a period of 30 years.
Based on availability of the highway infrastructure, Regina Bypass Partners will receive payments during the operating period.