EllisDon Consortium Achieves Financial Close on Largest P3 Project in Canada's History
TORONTO, July 24, 2015 /PRNewswire/ - Crosslinx Transit Solutions (CTS)— a consortium made up of EllisDon, ACS Infrastructure Canada, Aecon, and SNC-Lavalin— has just achieved financial close on the Eglinton Crosstown Light Rail Transit (LRT) project, after having been selected as the preferred proponent in early June by Infrastructure Ontario (IO) and Metrolinx to design, build, finance, and maintain the project.
The scope of work for this project includes 25 stations and stops; connections to three subway stations and several GO Transit lines; and a 10-kilometre underground portion between Mount Dennis (Weston Road) and east of Laird Drive. The Eglinton Crosstown LRT project will also create thousands of design and construction jobs, and provide users with a fast, reliable and comfortable transit service.
In achieving financial close, CTS, IO, and Metrolinx have concluded their contract negotiations, and reached a mutual agreement on project conditions. In 2010, the Province of Ontario announced an investment of $5.3 billion for capital (construction costs) for the Crosstown LRT.
"We're excited to start this ground-breaking work," said Geoff Smith, EllisDon President and CEO. "The Eglinton Crosstown LRT project is now one step closer to redefining what it means to commute in Toronto."
About EllisDon
EllisDon is a global construction services company, with approximately 2,500 employees, that completes over $3.3 billion in new construction work annually. Incorporated in 1951, EllisDon boasts several offices–and a strong presence– across North America, the Middle East, and now South America. As one of the most active P3/AFP developers in Canada, EllisDon has significant experience in infrastructure development, and is skilled in the delivery of design, build, financing, and operations and maintenance of Canadian P3 projects since 2003. EllisDon has successfully bid and closed 26 P3/AFP infrastructure development projects with a total capital value in excess of $8 billion. Twenty of these projects have reached substantial completion on schedule and have successfully transitioned into the operations phase.
For more information please visit www.ellisdon.com.
SOURCE EllisDon Corporation
Share this article