MONTREAL, Feb. 13, 2013 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) is pleased to announce that the consortium, the Rideau Transit Group Partnership, of which SNC-Lavalin is a partner, has finalized an agreement with the City of Ottawa to design, build, finance and maintain the Confederation Line, the city's first-ever light rail transit system.
In the initial phase of the project, the Rideau Transit Group Partnership will be responsible for the construction of 12.5 km of guideway, 10 above-ground stations, three underground stations and a 2.5 km tunnel beneath the downtown core. The consortium will also widen Highway 417 between Nicholas Street to the Highway 174 split, supply the light rail transit vehicles, build a maintenance and storage facility, and provide ongoing maintenance of the system for a 30-year period.
The Confederation Line is a sustainable and affordable rapid transit solution that will get passengers to their destinations more quickly, and significantly relieve pressure on Ottawa's existing traffic congestion, including its bus infrastructure.
"We and our partners are truly honoured to have been selected to work with the City of Ottawa to deliver a project that will benefit the National Capital Region for many decades to come," said Robert G. Card, President and CEO, SNC-Lavalin Group Inc. "The Confederation light rail project is transformational in nature and will change the face of Canada's capital. This landmark project will also provide significant economic and environmental benefits, resulting in considerable time savings to commuters and fewer vehicles on the road."
With a construction cost estimated at approximately $1.8 billion, the Confederation Line represents the biggest capital undertaking in the history of the City of Ottawa. Work on the Confederation Line and the widening of Highway 417 will commence in the spring of 2013, with revenue service anticipated in spring of 2018.
SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. Founded in 1911, SNC-Lavalin has offices across Canada and in over 40 other countries around the world, and is currently working in some 100 countries. www.snclavalin.com
For further information:
Leslie Quinton Senior Vice-President, Global Corporate
SNC-Lavalin Group Inc.
514-390-8000, ext. 7354
Denis Jasmin Vice-President, Investor Relations
SNC-Lavalin Group Inc.
514-390-8000, ext. 7553