P3 project reaches financial close (May 18, 2012)
The public-private partnership (P3) contract is worth $1.81 billion in 2012 dollars, to be paid over the 34-year term of the contract, and follows a P3 selection process which began in March 2011.
Sections of the ring road were built in the 1970s and the 1990s and the current Anthony Henday Drive project began in 2000 with the construction of the southwest section.
The estimated cost of using traditional delivery was $2.18 billion, a savings of $370 million. The three bids were $1.81 billion, $2.03 billion and $2.22 billion.
The project includes 27 kilometres of six and eight-lane divided roadway, nine interchanges, two road flyovers, eight rail crossings (flyovers), and two bridges across the North Saskatchewan River, for a total of 46 bridge structures.
The Capital City Link General Partnership ("CCLGP") will start construction in June 2012, with completion of the project scheduled for fall 2016.
Capital City Link General Partnership's partners are Meridiam Infrastructure NEAH ULC (a subsidiary of Meridiam Infrastructure North America Inc.), ACS NEAH Partner Inc. (a subsidiary of ACS Infrastructure Canada Inc.) and HOCHTIEF NEAH Partner Inc. (a subsidiary of HOCHTIEF PPP Solutions GmbH). The design and construction of the project will be subcontracted to a construction joint venture made up of Flatiron Constructors Canada Limited, Dragados Canada, Inc., Aecon Construction Management Inc. and Lafarge Canada Inc. The operations and maintenance will be subcontracted to Volker Stevin Highways Ltd.
A sod turning ceremony will be held this summer to mark the begining of construction.