EllisDon Consortium Achieves Financial Close on Largest P3 Project in Canada's History
Toronto, July 24, 2015 – 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 EllisDonEllisDon was established in 1951 and is an employee-owned construction services company, with annual revenues in excess of $3.3 billion. A leader in civil construction, the EllisDon Civil Division specializes in transit, road, rail, bridge and tunnel projects, and is the fastest rising facet of the company with a long history of success. In recent years it has grown to over 600 skilled staff and is currently involved in over $9 Billion dollars' worth of projects. These include the Eglinton Crosstown LRT, Ottawa's Confederation Line LRT, previous phases of the Viva program, infrastructure development for the Toronto Transit Commission, and work with the Ministry of Transportation Ontario. EllisDon has extensive experience with a variety of delivery models, including Design-Build, which requires extensive coordination of work while ensuring disruptions to the local community and the environmental are minimized. For more information, please visit www.ellisdon.com.