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Ottawa – The Confederation Line Light Rail Transit (LRT) project has been named the North American Public-Private-Partnership (P3) Deal of the Year by Project Finance Magazine.
The award recognizes the innovative project financing structure developed by Rideau Transit Group in their successful bid to design, build, finance and maintain the 12.5 kilometre light rail system, including the fleet of 34 Alstom CITADIS Spirit trains.
“Last November, the Confederation Line was recognized with the 2013 Gold Award for Transportation Innovation from the Canadian Council for Public-Private Partnerships,” said Mayor Jim Watson. “This new award provides even more proof that our partnership with RTG has made us P3 leaders, not just in Canada, but across the continent. Together we are transforming Ottawa’s transportation network and we have established new standards of excellence for large-scale infrastructure procurement.”
Antonio Estrada, CEO of Rideau Transit Group, accepted the award at the 15th Annual Project Finance Americas Deals of the Year Awards Dinner held last night in New York City. “Rideau Transit Group is very proud of our partnership with the City of Ottawa” said Estrada. “The partners of Rideau Transit Group are world leaders in transportation and infrastructure, having completed more than 80 P3 projects globally, and we look forward to delivering the Confederation Line, one of most exciting and innovative transit systems in North America.”
The Confederation Line is a $2.1 billion project that is jointly funded by the Government of Canada, the Province of Ontario and the City of Ottawa. The Government of Canada is contributing $600 million through the Building Canada Fund. The City of Ottawa will also allocate up to $161.5 million of its federal Gas Tax Fund transfers to this project. The Government of Ontario is contributing up to $600 million. In addition, the City of Ottawa will allocate $287 million of Provincial Gas Tax revenues to the capital infrastructure. The remaining project budget funds will come from development charge revenues and transit reserves.
This project is the first stage in Ottawa’s future rail network. The 12.5-kilometre electric light rail system replaces existing diesel powered buses, providing rapid transit between Blair Station in the east and Tunney’s Pasture in the west. The route includes 13 stations and a 2.5-kilometre tunnel that will alleviate congestion through the downtown core. For more information, visit http://ottawa.ca/confederationline.
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The award recognizes the innovative project financing structure developed by Rideau Transit Group in their successful bid to design, build, finance and maintain the 12.5 kilometre light rail system, including the fleet of 34 Alstom CITADIS Spirit trains.
“Last November, the Confederation Line was recognized with the 2013 Gold Award for Transportation Innovation from the Canadian Council for Public-Private Partnerships,” said Mayor Jim Watson. “This new award provides even more proof that our partnership with RTG has made us P3 leaders, not just in Canada, but across the continent. Together we are transforming Ottawa’s transportation network and we have established new standards of excellence for large-scale infrastructure procurement.”
Antonio Estrada, CEO of Rideau Transit Group, accepted the award at the 15th Annual Project Finance Americas Deals of the Year Awards Dinner held last night in New York City. “Rideau Transit Group is very proud of our partnership with the City of Ottawa” said Estrada. “The partners of Rideau Transit Group are world leaders in transportation and infrastructure, having completed more than 80 P3 projects globally, and we look forward to delivering the Confederation Line, one of most exciting and innovative transit systems in North America.”
The Confederation Line is a $2.1 billion project that is jointly funded by the Government of Canada, the Province of Ontario and the City of Ottawa. The Government of Canada is contributing $600 million through the Building Canada Fund. The City of Ottawa will also allocate up to $161.5 million of its federal Gas Tax Fund transfers to this project. The Government of Ontario is contributing up to $600 million. In addition, the City of Ottawa will allocate $287 million of Provincial Gas Tax revenues to the capital infrastructure. The remaining project budget funds will come from development charge revenues and transit reserves.
This project is the first stage in Ottawa’s future rail network. The 12.5-kilometre electric light rail system replaces existing diesel powered buses, providing rapid transit between Blair Station in the east and Tunney’s Pasture in the west. The route includes 13 stations and a 2.5-kilometre tunnel that will alleviate congestion through the downtown core. For more information, visit http://ottawa.ca/confederationline.
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