MONTREAL, June 19, 2015 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) is pleased to announce that the consortium, Signature on the Saint-Laurent Group ("SSL"), of which SNC-Lavalin is a 50% partner, has finalized an agreement with the Government of Canada to design, build, finance and maintain the New Champlain Bridge Corridor project. SSL will operate and maintain the bridge for the duration of the concession period until October 2049. SSL has entered into a date-certain, fixed-priced contract of approximately $2.15 billion with a construction joint venture of which SNC-Lavalin is also a 50% partner.
The Government of Canada is building the Project to replace the existing Champlain Bridge. The Government's vision for the Project: strengthen this vital link as a premier gateway into the City of Montreal. The existing structure is one of the busiest crossings in the country for about 40 to 60 million cars, trucks and buses a year, and is a critical passageway for the regional and Canadian economies. As well, over 11 million transit users travel across it annually. In terms of Canada-US trade, more than $20 billion in cross-border goods pass through this trade corridor each year.
The new crossing will include not only a new bridge across the St. Lawrence River, but also a new smaller bridge for Île-des-Soeurs (Nun's Island). In addition, the federal portion of Autoroute 15 is to be reconstructed and widened. Autoroute 15 will also be reconstructed on the Île-des-Soeurs Bridge. Furthermore, the Project calls for the operation and maintenance of the new Champlain Bridge Corridor and related tolling infrastructure as well as the federal section of the Bonaventure Expressway.
"We are honoured that the Government of Canada has entrusted us with this important project," said Ian L. Edwards, Executive Vice-President, Infrastructure Sector, SNC-Lavalin Group Inc. "Cities around the world can be identified by their bridges, and we will proudly contribute our expertise to deliver a safe, reliable and sustainable bridge that will remain an iconic landmark for generations to come."
"We are happy to play a key role in delivering this signature infrastructure PPP project that is at the heart of Montreal's transportation network and vital to Canada and Quebec's economic growth," said Robert G. Card, President and Chief Executive Officer, SNC-Lavalin Group Inc. "This project is especially meaningful to SNC-Lavalin as we have roots in Montreal going back over 100 years."
Construction is set to begin in the summer of 2015. The new bridge is expected to be completed by the end of 2018 with the balance of the Project scheduled for completion in 2019.
The New Champlain Bridge Corridor project is part of a long series of signature works conducted by SNC-Lavalin in the Montreal area, such as the Maison symphonique, the McGill University Health Centre Glen site, the Shriners Hospital for Children-Canada, and the Sainte-Justine Hospital modernization.
Founded in 1911, SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure. From offices in over 50 countries, SNC-Lavalin's employees provide EPC and EPCM services to clients in a variety of industry sectors, including mining and metallurgy, oil and gas, environment and water, infrastructure and clean power. SNC-Lavalin can also combine these services with its financing and operations and maintenance capabilities to provide complete end-to-end project solutions. www.snclavalin.com
Image with caption: "SNC-Lavalin consortium awarded New Champlain Bridge Corridor project (CNW Group/SNC-Lavalin)". Image available at: http://photos.newswire.ca/images/download/20150619_C9708_PHOTO_EN_43604.jpg
For further information:
Media: Louis-Antoine Paquin, Media Relations Manager, Global Corporate Communications, SNC-Lavalin Group Inc., 514-393-8000, ext. 54772, [email protected]; Investors: Denis Jasmin Vice-President, Investor Relations, SNC-Lavalin Group Inc., 514-393-8000, ext. 57553, [email protected]