Regina Bypass Partners has been awarded a PPP contract worth US$1.4bn for the completion and operation of a 61km highway around Regina, the capital of the province of Saskatchewan in Canada.
Regina Bypass Partners is made up of Vinci Concessions (which owns 37.5% of the project) Parsons Enterprises (25%), Connor Clark & Lunn GVest fund (25%) and Gracorp Capital (12.5%).
The deal was signed with the Saskatchewan Ministry of Highways and Infrastructure, with a term of 30 years for the completion and operation of the bypass.
The project involves the construction of 37km of road and the renovation of 24km more. There will also be 12 interchanges, together with their access roads, and 38 civil engineering structures.
After construction is completed, the motorway will be operated and maintained by Regina Bypass Operations and Maintenance, a wholly owned subsidiary of Vinci.
The bypass is part of the Trans-Canada Highway 1, which crosses the continent and plays an important role in movement of goods. It will also improve mobility by speeding up traffic flows as well as increasing traffic safety around the city of Regina.
Construction work will last about four years.
Image via Vinci.