$1.88B Saskatchewan highway project financed and moving forward

TORONTO—A consortium of companies, consisting of Connor, Clark & Lunn GVest Traditional Infrastructure Limited Partnership and affiliates of Graham Group Ltd., VINCI Construction S.A.S. and Parsons Corporation have been awarded the contract to design, build, finance, operate, maintain and rehabilitate the largest transportation infrastructure project in Saskatchewan’s history.

The consortium has executed a $1.88 billion contract with the Saskatchewan Ministry of Highways and Infrastructure with an operating term of 30 years.

“We are delighted that our consortium was selected to deliver this important project to the Province of Saskatchewan”, said Matt O’Brien, president of Connor, Clark & Lunn Infrastructure. “The project is our first transportation infrastructure investment and adds another high-quality asset to our large and growing portfolio.”

The Project consists of a free-flow highway corridor through the Regina region, which encompasses approximately 58 km of four-lane highway – including 40 km of new four-lane highway and service roads incorporating a number of interchanges and intersections. Inadequate for the current traffic demand, Connor, Clark & Lunn said the existing highway infrastructure poses a severe impediment to traffic flow, and places a major restriction on commercial development and population growth. The new bypass will serve the Regina region’s growing population and support new economic development initiatives.

“The scope and delivery method for this project has created the opportunity to offer very good value to Saskatchewan. Our integrated team combines local knowledge, labor force and subcontractor relationships with industry-leading transportation infrastructure expertise.” said Tim Heavenor, CFO for Graham and president of the project delivery team.

Construction of the project will commence in the summer of 2015 and is expected to be completed by late 2019.