Concert acquires remaining interest in OPP modernization project
Concert Infrastructure has become the sole owner of Ontario Provincial Police (OPP) modernization project and its company, Shield Infrastructure Partnership.
The firm has acquired the remaining 50 % stake in the project form HOCHTIEF PPP Solutions.
The OPP project was completed in 2012. It involved the construction of 18 new OPP detachments, regional headquarters and forensic identification services in 16 communities across Ontario through a design, build, finance andmaintain (DBFM) model. The concession period is 30 years starting after construction.
The new facilities, which in many cases were replacing buildings that have exceeded their useful life, feature up-to-date amenities to better support the demands of modern police operations and meet the needs of the community.
Concert Infrastructure has refinanced the OPP project's long term debt through launching a green bond, which is part of a program to support sustainable infrastructure projects.
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