The P3 Canada Fund is contributing C$250 million (€189 million; $244 million) to a light rail transit (LRT) project in Edmonton, according to a press release.
The LRT public-private partnership (PPP or P3) will “allow Edmonton to enhance its public transit” and “help reduce traffic congestion and greenhouse gas…increase transit ridership,” and provide “a lower-cost transportation alternative”.
PPP Canada, a ‘Crown corporation’ established to manage the P3 Canada Fund, said a “competitive bidding process” would determine a “private sector proponent”.
The P3 would entail a design, build, finance, operate, and maintain (DBFOM) contract with a 30-year term. Edmonton—a city of 812, 201 located in the province of Alberta—would “retain ownership of the infrastructure”.
The PPP is a 13.2 kilometer rail line running from Mill Woods to downtown Edmonton described as “an urban style low-floor LRT” with an “initial projected daily ridership of 28,000”.
The project will also require a bridge to be created to span the North Saskatchewan River, as well as a 350-meter tunnel.
Last October, the P3 Canada Fund invested C$36.8 million (€29 million; $37 million) in the Anthony Henday Drive project, a PPP in Edmonton.