BBGI is a 50% equity investor in the consortium that will design, build, finance, operate and maintain the infrastructure for a period of 30 years. The North Commuter Parkway Project involves the replacement of the 107-year-old Traffic Bridge in Saskatoon’s downtown core as well as the development of a new six-lane bridge crossing the South Saskatchewan River in the City’s north end and 8.3 kilometres of new arterial roadways.
Construction works relating to the project will be undertaken by Graham Construction. All construction obligations have been passed down to the builder. The concession term runs for 30 years plus a 3-year construction period. Payments under the project will all be availability based. BBGI expects to receive distributions throughout the concession period once the project becomes operational. BBGI’s investment will be financed out of existing cash resources and borrowings under the credit facility.
BBGI takes 50% stake in North Commuter Parkway project in Saskatoon