Plenary reaches FC for Southwest Rapid Transitway (Stage 2) and Pembina Highway Underpass Project
Plenary Roads Winnipeg has announced it has reached financial close on the Southwest Rapid Transitway (Stage 2) and Pembina Highway Underpass P3 Project in Winnipeg, Canada. Details of the financing sources were not revealed in press released issued by the sponsor of the project.
The total project investment is estimated at CAD$587.3 million (US$453.8 million).
In May we reported that the City of Winnipeg, Canada selected Plenary Roads Winnipeg as the preferred bidder for the development of the PPP project. The team is composed of Plenary Group Canada, PCL Constructors Canada Inc. and Alberta Highway Services Limited (a division of ColasCanada Inc).
The Southwest Rapid Transitway (Stage 2) and Pembina Highway Underpass Project is comprised of significant infrastructure components in the southwest quadrant of the city including: the completion of Stage 2 of the Southwest Transitway, the addition of active transportation infrastructure, the renewal and expansion of the Pembina Underpass, and connections to the University of Manitoba and Investors Group Field.
The project will be developed on a design, build, finance, operate, maintain (DBFOM) basis. The private partner will maintain it over a 30-year concession period from 2019 until 2049. The operations/maintenance component will not include the operation or maintenance of Winnipeg Transit buses.
Construction of the project will begin this summer and is expected to be completed in late 2019. Following a period of testing, training and commissioning, Winnipeg Transit operations on the new transitway are expected to start in April 2020.
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