EDMONTON – The city announced Wednesday it will work with TransEd Partners on the Valley LRT Line from Mill Woods to downtown.
The company will design, build, operate, maintain and finance stage one of the line.
“We feel confident that TransEd Partners shares Edmonton’s vision for its future, and is the right partner to bring this vision to life,” said Acting City Manager Linda Cochrane. “The procurement process on this project has been very robust and the final deal is one that offers strong value for taxpayers.”
TransEd Partners was chosen following an 18-month process that saw comprehensive proposals from three international teams. Evaulations were based on their experience in the design and construction of LRT systems as well as operation, maintenance and finance. The city said TransEd Partners’ proposal gave the best overall value.
The city said a P3 arrangement transfers significant risks for budget, schedule or performance delays, as well as ongoing maintenance and operations, to the private sector.
The $1.8 billion Valley Line project is being funded by the city ($800 million), the province ($600 million) and the federal government ($400 million).
The team comprises: Fengate Capital Management, Bechtel, Ellis-Don, and Bombardier.
The contract process is expected to be completed by February 2016, with construction beginning shortly afterwards.