EDMONTON – The Government of Canada and the City of Edmonton announced a Public-Private Partnership (P3) Thursday to fast track the city’s new Light Rail Transit (LRT).
The P3 Canada Fund investment will fund up to $250 million for the construction of the new LRT.
“Our Government is proud to support municipal investments in infrastructure projects that harness public and private sector expertise to deliver vital local services, like light rail transit, that promote long-term economic growth,” said Federal Minister of State, Ted Menzies.
Mayor Stephen Mandel was on hand for the announcement.
“The City of Edmonton welcomes this important funding announcement by the federal government,” said Mandel.
“The Southeast to West LRT is a key part of our transportation infrastructure. It will connect communities in Mill Woods and southeast Edmonton to the central core and is essential to our plans for building a better, more accessible city.”
The project includes the construction of the southeast leg of the Southeast to West LRT (Valley Line), which runs 13.2 kilometres from Mill Woods to downtown Edmonton.
The City estimates roughly 28,000 passengers will ride that line daily, and that number will increase to 49,000 by 2044.
The project also includes the construction of a signature bridge over the North Saskatchewan River, a 350 metre tunnel, and an operations and maintenance facility for the new line.
“This project means Edmontonians will save money on commuting and have more time to spend with their families rather than in traffic,” said Minister of Public Works and Government Services and Minister for Status of Women, Rona Ambrose. “It also means high-quality jobs for people in Edmonton and throughout the surrounding region.”
The private component of the P3 will be chosen through a competitive bidding process. A company – or companies – will be selected to design, build, finance, operate and maintain the new LRT project over a 30-year period. Through this process, the city says it will transfer significant risks over the whole lifecycle of the project to the private sector.
Edmonton will remain the owner of the infrastructure, set the fares, and collect revenue. It will also ensure the safety and security standards are maintained.
For information on PPP Canada and the Government of Canada’s P3 Canada Fund investments visit p3canada.ca.
For information on Edmonton’s Southeast to West LRT, visit edmonton.ca/setowestlrt.