Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM All Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: April 16, 2009

Project Name: Canada Line, Vancouver, BC
Year in Operation: 2009
Sector: Transportation
Subsector: Transit
Status: In Operation
Type: New Facility
Description: New 19 kilometer rapid transit line in Metro Vancouver, connecting downtown to the Airport and Richmond City Centre, with 16 stations, expected to open in Sept. 2009 in time for the 2010 Olympics. Stations begin at the Waterfront, pass through City Centre, Olympic Village, on the way to Bridgeport, where the line splits in two to head for Richmond Brighouse and YVR (Vancouver) Airport. The line is operated by SNC-Lavalin.
Delivery Method as described in the country where it's located: Design Build Operate Maintain
Is the project still active: Yes
Comments: 35 year fixed price, date certain, performance based contract to design, build, partially finance, operate and maintain the Canada Line for 35 years. Govt owns line and separately sets fares.

Project Locations

Address:
City: Vancouver
State: British Columbia
Country: Canada

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): TransLink, the Vancouver region's transit authority, is paying off the debt incurred by the operating company to fund the balance of initial delivery costs. This is a expense stream of approximately $75 million per year.
Checkbox Checked Environmental Clearance: By various levels of government.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: $CDN 1,500 million in public agency commitments to the project. $400 million from Government of Canada, $250 million from Province of British Columbia for construction and $150 million from Province for O&M, $300 million from Vancouver International Airport Authority, $375 million from Greater Vancouver Transportation Authority (TransLink), and $25 million form City of Vancouver.

Arrow Right
Checkbox Checked

Direct Cash Support

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Total construction costs were estimated at $1.5 billion, but came in at $2.1 billion. Contractor invested the balance of $CDN 600 million as part of its obligation under the 35 year contract. Operating revenues are forecast to equal or exceed operating costs, including repayment of the Contractor's capital investment over the operating period. As of 2010, operating revenues for all of TransLink's bus-ferry-rail-train system was covering 53% of total operating costs. Contractor debt is being retired by TransLink. This is an "all public" funded project.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
35
0
Forms
Description
Other
Prepared by government entities in connection with procurement process. 

Project Value (If and As Known)

Date of Estimated Project Value: December 10, 2010
Project Value
Hard Cost
Hard & Soft Costs
Pre-Feasibility (Public Sponsor Expense)
(none)
> $50 Million US
Construction
$1-5 Billion US
$1-5 Billion US
Operations & Maintenance
$500 Million - 2 Billion US
$500 Million - 2 Billion US
Total
$2-10 Billion US
$2-10 Billion US

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