CALGARY, Alberta, Sept. 15, 2016 /PRNewswire/ -- Meridiam, a leading global investor and asset manager specializing in public and community infrastructure announced today that its team, Mountain View Partners, has signed a 35-year contract with the province of Alberta, Canada, to design, build, operate, and partially finance the Southwest Calgary Ring Road. The Design-Build-Finance- Operate (DBFO) contract is worth CAD$1.42 billion in 2016 dollars, to be paid over the 35-year term of the contract.
The Southwest Calgary Ring Road Project involves construction from Highway 8 to Macleod Trail SE and includes reconstruction of Glenmore Trail from Sarcee Trail to east of 37 Street. The project includes 31 kilometers of six- and eight-lane divided highway; 14 interchanges; one road flyover; one railway crossing (flyover), 49 bridges and three river crossings over the Elbow River and Fish Creek. This project will advance the completion of the Calgary Ring Road.
"Meridiam feels privileged to be part of this landmark project to advance Calgary's ring road. We're thrilled to develop our second asset in Alberta with the Province and to invest alongside our partners in this key project for continued economic growth. We believe that our long term approach to infrastructure development will allow us to work with all Calgarians in true partnership for the next 35 years," said Jane Garvey, Chairman, Meridiam North America.
Meridiam draws on deep transportation and PPP experience and has closed 11 projects in North America since 2009, including North East Anthony Henday (Edmonton, Alberta), Waterloo Light Rail (Ontario) in Canada, as well as LaGuardia Airport Central Terminal B (NY) and North Tarrant Express (TX) in the US.
Mountain View Partners will start construction in Fall 2016 and expects to open to traffic by October 2021. Mountain View Partners was formed by Meridiam Infrastructure North America Corp., Kiewit Canada Development Corp, Connor, Clark & Lunn GVest Traditional Infrastructure Limited Partnership and Ledcor Developments Ltd. The design and construction of the project will be subcontracted to KGL Contractors, a construction partnership made up of Kiewit Management Co., Graham Infrastructure and Ledcor Group of Companies. The operations and maintenance will be subcontracted to Alberta Highways Services Ltd.
Founded in 2005, Meridiam is an independent investment firm specializing in the development, financing, and management of long-term public infrastructure projects. With offices in Paris, New York, Toronto, Istanbul, and Dakar, Meridiam is a leading investor in public infrastructure across Europe, North America and Africa. Currently managing €5 billion ($5.7B) of assets, the firm has to date invested in 49 projects. Designated Global Infrastructure Fund of the Year for the fourth time in 2015 by IJ Global, Meridiam is one of the first investors and asset managers to receive ISO 9001 certification for its responsible investment process and is a founding member of the Long Term Infrastructure Investors Association.
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