Liricon Capital and Plenary Americas and Caisse de dépôt et placement du Québec (CDPQ) have submitted an Enhanced Unsolicited Proposal to the Government of Alberta’s Ministry of Transportation (Alberta Transportation), Invest Alberta Corporation, and the Canada Infrastructure Bank (CIB) for the Calgary Airport - Banff Rail (CABR) project in Canada.

The proposal will allow advancing the project from Phase 3, Development, to Phase 4, Design, which will position the project for success in the fifth and final phase, Construction and Implementation. The proposal is structured as a public-private partnership (PPP) with financing from private and institutional capital and the CIB.

The Calgary- Banff rail project involves the development of a new passenger line built within the existing CP Rail freight corridor and will provide service between 7 stations: Calgary Airport, Calgary Downtown, Calgary Keith, Cochrane, Morley (Stoney Nakoda), Canmore and Banff. The rail line is expected to be delivered by 2025 and has a potenciañ to be hydrogen-powered.