On April 5, 2017, the Acciona, Tetra Tech, Amec Foster Wheeler and Dialog Design consortium achieved financial close for the Lions Gate Secondary Wastewater Treatment Plant.
The Lions Gate project is set to replace an existing water treatment plant which has been in operation since 1961. The facility is due to open by the end of 2020, and capital expenditure to be in the region of CA$525m with the funding being split between the Government of Canada, the Province of British Columbia and Metro Vancouver. Brookfield acted as financial advisors and Operis provided the audit of the financial model at financial close.
The Lions Gate Secondary Wastewater project is one of several wastewater deals currently in procurement in Canada, demonstrating that in recent months water has become one of the priority sectors for this market. Operis has had the opportunity to work on many of these Canadian wastewater deals and recently advised bidders on two projects, McLoughlin Wastewater and Hamilton Biosolids, which also reached financial close in early 2017.