Construction on the Valley Line light-rail transit (LRT) line might be in line for a spring start-up following the announcement of a successful letting on the 13-km project.
The $1.8-billion line will be built and run by TransEd Partners, a partnership that includes well-known names Bombardier and EllisDon, along with Fengate Capital Management, Bechtel, Transdev, ARUP and IBI Group.
Acting Edmonton city manager Linda Cochrane said TransEd was chosen from a final list of three bidders. The final contract will be signed in February, after a full review of the financial details. The line is scheduled to open by the end of 2020.
Once the contract is signed, the consortium of companies will assume all risk for the project and also be responsible for running and maintaining the line for the next 30 years.
The design of the contract provides major financial incentives for on-time completion and stiff penalties should the project be delivered late.
