TORONTO, Aug. 5, 2015 /CNW/ - Connor, Clark & Lunn GVest Traditional Infrastructure Limited Partnership, as part of the Regina Bypass Partners consortium, has completed an equity investment in the Regina Bypass Project, a $1.88 billion project to design, build, finance, operate, maintain and rehabilitate a four-lane highway in the immediate vicinity of Regina, Saskatchewan. The Regina Bypass project is the largest transportation infrastructure project in Saskatchewan's history.
Regina Bypass Partners is a joint venture between Connor, Clark & Lunn GVest Traditional Infrastructure Limited Partnership and affiliates of Graham Group Ltd., VINCI Construction S.A.S. and Parsons Corporation. The consortium has executed a 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, 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, Chief Financial Officer for Graham and President of Regina Bypass Partners, the project delivery team.
Construction of the Project will commence in the summer of 2015 and is expected to be completed by late 2019.
About Connor, Clark & Lunn Infrastructure
Connor, Clark & Lunn Infrastructure invests in middle-market infrastructure and infrastructure-like assets with highly attractive risk-return characteristics, long lives and the potential to generate stable cash flow. Connor, Clark & Lunn Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over $60 billion in assets. For more information, please visit www.cclinfrastructure.com.
About Gracorp Capital Advisors
Gracorp Capital Advisors is a specialized infrastructure developer, investment and asset manager formed from the personal investments of the employees of Graham Group. As one of Canada's top five construction firms, Graham is recognized as an industry-leading general contractor with broad expertise in infrastructure, ranging from bridges and roads, to water and sewage treatment plants, to schools and hospitals. Founded in 1926, Graham operates from 14 locations across Canada and the United States. Graham employees are investors in the Connor, Clark & Lunn GVest Traditional Infrastructure Limited Partnership.
About Connor, Clark & Lunn GVest Traditional Infrastructure Limited Partnership
Connor, Clark & Lunn GVest Traditional Infrastructure Limited Partnership is a partnership between Connor, Clark & Lunn Infrastructure and Gracorp Capital Ltd., an affiliate of Graham Group Ltd. that invests in a diversified portfolio of traditional infrastructure assets.
SOURCE Connor, Clark & Lunn Infrastructure
For further information: Matt O'Brien, President, Connor Clark & Lunn Infrastructure, (416) 360-7382, firstname.lastname@example.org; Tim Heavenor, Chief Financial Officer, Graham Group Ltd., (403) 570-5008, email@example.com