- CDPQ Infra is launching a period of intensive discussions with the qualified consortiums to obtain the best value for money for the engineering and construction contract.
- The preferred consortiums for the two contracts (engineering and construction; rolling stock) will be selected by mid-February 2018, allowing construction of the REM to begin in the spring.
MONTRÉAL, Dec. 1, 2017 /CNW Telbec/ - CDPQ Infra, a subsidiary of Caisse de dépôt et placement du Québec, announced today its decision to keep its tender process for the Réseau électrique métropolitain (REM) open and launch a period of intensive discussions with the qualified consortiums for the engineering and construction contract. As such:
- the tender process will remain open until the end of January 2018; and
- the preferred consortiums will be selected by mid-February 2018.
From the start of the project, CDPQ Infra has based its work on two important principles: rigour and the pursuit of the best value for money. In the last few weeks, it has analyzed the submissions for the project's two contracts.
- For the engineering and construction contract, detailed analyses have demonstrated that additional discussions are required to achieve the best value for money. CDPQ Infra has therefore decided to launch a period of intensive discussions with the qualified consortiums for this contract.
The same verification and validation mechanisms overseen by the two external auditors and the Independent Committee, as set out in the process, will apply to the period of intensive discussions with the bidders.
- For the rolling stock and operations contract, proposals received are in line with the major principles set by CDPQ Infra. Therefore, additional discussions are not currently planned.
Following this discussion period, construction of the REM will begin in the spring.
About CDPQ Infra
CDPQ Infra is a wholly owned subsidiary of Caisse de dépôt et placement du Québec and is responsible for developing and operating infrastructure projects, including the Réseau électrique métropolitain (REM). The REM is a new, integrated 67-km public transit network intended to link downtown Montréal, the South Shore, the West Island (Sainte-Anne-de-Bellevue), the North Shore (Laval and Deux-Montagnes) and the airport through an entirely automated and electric light rail transit (LRT) system. For more information on CDPQ Infra, visit cdpqinfra.com, follow us on Twitter @CDPQInfra or consult our Facebook pages. For more information on the REM.
SOURCE CDPQ Infra Inc.
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Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2017, it held $286.5 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate...