Aecon team reaches financial close on Gordie Howe bridge project
October 02, 2018 – Bridging North America, a consortium comprising Aecon, ACS Infrastructure Canada and Fluor Canada, has reached financial close on the Gordie Howe International Bridge project.
The 2.5km cable-stayed bridge will have three Canadian-bound lanes and three US-bound lanes, as well as two approach bridges.
The project includes a 130-acre Canadian Port of Entry, which will be the largest Canadian port along the Canada-US border, and a 148-acre US Port of Entry. Both ports will include outbound inspection facilities, commercial exit control booths and parking.
Previously, Windsor-Detroit Bridge Authority (WDBA), the Canadian Crown corporation responsible for the project, selected Bridging North America as preferred proponent for the project.
The fixed-priced contract is valued at C$5.7bn (nominal value), which includes the design-build (DB) phase and the 30-year operation, maintenance and rehabilitation (OMR) phase.
Bridging North America will design, build, finance, operate and maintain the Gordie Howe International Bridge through a public-private partnership (P3).
Aecon Group president and CEO Jean-Louis Servranckx said: “Together with our partners, Aecon looks forward to working with the WDBA to deliver this vital infrastructure project for Canada and the United States, creating lasting positive benefits for all stakeholders.
“This project will increase Aecon’s Infrastructure backlog by $685 million, and contribute to a record level in the third quarter of 2018 for the second consecutive quarter this year and aligns well with our existing portfolio of projects.”
Aecon has a 20% interest in the equity, DB and OMR partnerships. The project is expected to be completed by the end of 2024.
Aecon Concessions president Steve Nackan said: “Aecon’s significant involvement in this project illustrates the strength and diversity of our integrated business model and our proven expertise delivering turnkey service offerings for large-scale, complex projects.
“The Gordie Howe International Bridge will promote economic development in the region for both countries and create thousands of jobs ensuring lasting and sustainable benefits.”