26th Oct 2015 08:07
LONDON (Alliance News) - Investment vehicle BBGI SICAV SA on Monday said it has reached financial close on the North Commuter Parkway public-private partnership project in Saskatoon, Saskatchewan, Canada.
BBGI is a 50% equity investor on the consortium tapped to build, design, finance, operate and maintain the infrastructure under a 30-year contract.
The 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.
"This transaction demonstrates our ability to grow our portfolio of infrastructure investments not only by acquiring operational projects but also by partnering with construction companies in consortium bids on primary market opportunities such as North Commuter Parkway," said Duncan Ball, co-chief executive of BBGI.
Shares in BBGI were untraded Monday morning shortly after market open. They last closed at 127.75 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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