Contract Awarded for CAD 4.6 billion Canadian LRT
Infrastructure Ontario (IO) and Metrolinx have awarded a contract valued at CAD 4.6 billion (USD 3.5 billion) to Mobilinx Hurontario General Partnership (Mobilinx) for the Hurontario LRT project. The contract requires Mobilinx to design, build, finance, operate and maintain the new transit project for a 30-year term. The project consists of 18 km of light rail transit serving the cities of Mississauga and Brampton in the suburbs of Toronto and features 19 stops.
The Mobilinx team includes:
Applicant Lead: John Laing Investments Limited, Astaldi Canada Enterprises Inc., Hitachi Rail STS S.p.A., Transdev North America Inc., Amico Concessions Inc., Salini Impregilo Canada Holding Inc.
Construction: Astaldi Canada Design & Construction Inc., Hitachi Rail STS Canada Inc., Amico Infrastructures Inc., Bot Infrastructure Ltd., Salini Impregilo Civil Works Inc.
Design: IBI Group Professional Services (Canada) Inc., Hitachi Rail STS S.p.A., Morrison Hershfield, Arcadis Canada Inc., Daoust Lestage Inc., Exp Services Inc.
Operation Maintenance & Rehabilitation Provider: Transdev Services Canada Inc., Hitachi Rail STS Canada Inc., Astaldi Canada Enterprises Inc., Salini Impregilo S.p.A.
Financial Advisor: National Bank, HSBC
John Laing has a 35% equity interest in the project. The consortium successfully achieved Financial Close on October 21st, 2019.
The project’s approximate USD 2.1 billion in capital costs will be financed by Mobilinx’ financing solution, which includes:
- Equity capital invested by John Laing and its equity partners;
- A short-term construction bank facility provided by National Bank of Canada, HSBC Bank Canada, Sumitomo Mitsui Banking Corporation, and Mizuho Bank, Ltd.;
- Long-term bond issuances, fully underwritten by National Bank Financial Inc. and HSBC Bank Canada; and
- Progress and milestone payments provided by the Infrastructure Ontario and Metrolinx.
Mobilinx’s Financial Advisors who supported the development and execution of the financing solution are HSBC Securities (Canada) Inc. and National Bank Financial Inc.
Design work will begin immediately with construction to follow. Mobilinx anticipates completion of the LRT in Fall 2024.
The selection of Mobilinx is the result of an open, fair and competitive procurement process overseen by a third-party fairness monitor.
Metrolinx and IO are delivering the Hurontario LRT via a public-private partnership (P3) contract which transfers the appropriate risks to the private sector. While the LRT will be operated and maintained by Mobilinx, it will remain publicly owned by Metrolinx.
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