Financial close has been achieved between the Chinook Partnership, comprising of Acciona S.A. and SNC-Lavalin Inc, and the Alberta Ministry of Transport for the Southeast Stoney Trail road project in Canada. The project involves a 30 year maintenance and rehabilitation agreement, and will see the extension of the southeast section of the ring road around Calgary, known as Stoney Trail. The project will include 25 km of six-lane roadway, nine interchanges, two flyover rail crossings and 29 bridge structures.
The project will be financed using a bond, and the government of Alberta will provide availability payments over the 30 year concession period. Construction is planned to be completed in September 2013.
Operis provided financial model due diligence services for the Chinook Partnership and the funders.