This week the Province of Alberta and Mountain View Partners signed a Design, Build, Finance and Maintain P3 contract for the Southwest Calgary Ring Road project. Proposals for the project, which will run from Highway 8 in Springbank to Macleod Trail at Highway 22x, were invited last September, and in July of this year Mountain View Partners was announced as the preferred proponent.
The agreement will see the contractor design and construct the project over the next five years, and then maintain the road for 30 years of operation, concluding in 2051. The contract has been valued at $1.42 billion in 2016 dollars, while the unadjusted figure has yet to be released.
The Province of Alberta, with support of the Federal Government, will fund the project 60%, while Mountain View Partners will finance the remaining 40% over the life of the contract. Two other bids were rejected: Valley Link Partners with a bid of $1.88 billion and Southwest Connect with a $1.55 billion bid.
This leg of the ring road is expected to be open to Calgary drivers in 2021, leaving only the West Calgary Ring Road project remaining.
- “Southwest Calgary Ring Road gets full financing”. Province of Alberta, Press Release. September 15 2016. http://www.alberta.ca/release.cfm?xID=43419D6A370C6-F108-C355-1A58CBC56D7E5163