Bechtel Team Breaks Ground on New P3 Light Rail Project in Edmonton
Bechtel, part of TransEd Partners, a consortium also comprising Bombardier, EllisDon and Fengate Capital Management, announced today the groundbreaking for the Edmonton Valley Line Light Rail Transit – Stage 1 project in Alberta, Canada. The TransEd team achieved financial close in February to finance, design, supply vehicles, build, operate, and maintain Stage 1 for the City of Edmonton. The Valley Line LRT is designed to meet the demands of Canada’s second fastest-growing city that is expected to increase in size by 50 percent by 2040. Today’s groundbreaking event was attended by the mayor of Edmonton and Canadian state ministers.
“From the start of this project, Bechtel and TransEd Partners have enjoyed a very positive partnership with the City of Edmonton and the community,” said Larry Melton, Bechtel’s design-build project director for TransEd Partners. “We are looking forward to delivering a safe, efficient, and sustainable transit line that will support the creation of hundreds of local jobs during peak construction and help drive economic growth for the region”.
The Stage 1 project is being delivered using a Public-Private Partnership (P3) procurement model and was the first win by Bechtel’s new, dedicated P3 business line, which combines Bechtel’s extensive design-build experience and long history as an equity investor and developer of projects. Bechtel is the lead partner for the design and construction of the project. The company also helped to secure financing and will assist in the provision of the operations and maintenance during the service period.
A global leader in the rail industry, Bechtel has successfully delivered some of the largest and most complex rail projects in the world, including the Channel Tunnel, High Speed 1, San Francisco BART system, the Dulles Metrorail Extension Phase 1, and the Athens Metro. The company is currently working on the Toronto-York Spadina Subway Extension, theRiyadh Metro and London’s Crossrail.
Bechtel is one of the most respected global engineering, construction, and project management companies. Together with our customers, we deliver landmark projects that foster long-term progress and economic growth. Since 1898, we’ve completed more than 25,000 extraordinary projects across 160 countries on all seven continents. We operate through four global businesses: Infrastructure; Nuclear, Security & Environmental; Oil, Gas & Chemicals; and Mining & Metals. Our company and our culture are built on more than a century of leadership and a relentless adherence to our values, the core of which are safety, quality, ethics, and integrity. These values are what we believe, what we expect, what we deliver, and what we live. www.bechtel.com