British Columbia to tender CAD$3.5B George Massey Tunnel Replacement
This article is part of a daily series of MegaProjects articles. If you want to know more about PPP projects with a considerable size visit our MegaProjects section. You can receive them by email on a daily basis.
The government of British Columbia, Canada, has plans to launch a tender process to carry out the George Massey Tunnel replacement project during 2016.
Last month the Ministry of Transportation and Infrastructure unveiled design and cost details of the PPP project. It will involve, among others, the development of a new 10 lanes 3.3 km cable-stay bride, the replacement of three key interchanges, and the upgrade of 24 km of the Highway 99.
The new bridge will replace the 1959-opened George Massey Tunnel under the Fraser River. It will be used by approximately 10, 000 transit passengers and 80,00 vehicles per day.
The bridge will have four general traffic lanes, one lane dedicated for high occupancy vehicles (HOV) and transit, and a multi-use pathway for pedestrians. It will also accommodate future SkyTrain line extension.
It is expected that the project will reduce the travel time and collisions associated with merging into narrow tunnel lanes by 35 %.
The concession contact will have a period of 30 years and the total project investment is estimated at CAD$3.5 billion (US$2.4 billion). Construction works are scheduled to commence in 2017.
See George Massey Tunnel replacement project technical briefing:
http://infrapppworld.com/documents/projects/technical-briefing-2.pdf
Country news
-
-
January 15, 2016
QIC appoints infrastructure Partner in New York
QIC has announced the appointment of Eric Belman to the QIC Global Infrastructure team in its newly-established New York office, USA. Read more -
January 15, 2016
Four team shortlisted for Sinai hospital redevelopment project
Infrastructure Ontario and Sinai Health System have shortlisted four companies for a P3 to build and finance six key areas of Mount Sinai Hospital in Toronto, Canada. Read more -
December 23, 2015
Fiera Capital sells 35% equity stake in Axium Infrastructure
Fiera Capital has entered into a definitive agreement to sell 35 percent equity stake in Axium Infrastructure. Read more -
December 23, 2015
Financial close reached for ACT courts project
Jurist Partnership has achieved commercial closure for the Australian Capital Territory (ACT) Courts Facilities PPP project. Read more -
December 26, 2008
Local PPP news channels
Some of you may be interested in public private partnerships news in one country. This is why I want to leave you here some quick links that will take you rapidly to the right place. As some of you already may know this blog supports another website that contains all the worlwide news related to the world of public private partnerships (and when I use this term I also want to refer to the project finance and private infrastructure investment worlds). Read more
