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| Financial close achieved on Waterloo Region Light Rail Transit project Aecon Group Inc., Canada's largest publicly traded construction company, advised that the GrandLinq consortium and the Region of Waterloo have achieved financial close on the previously disclosed ION Stage 1 Light Rail Transit (LRT) project. The GrandLinq consortium is comprised of: Plenary Group, Meridiam, Aecon, Kiewit and Keolis. GrandLinq will be responsible for the design, build, finance, operation and maintenance of the LRT system. GrandLinq Contractors, a partnership between Aecon and Kiewit, will perform the design and construction portion of the project. Work is anticipated to commence in the second quarter of 2014 and is scheduled for completion in 2017. As previously disclosed, the value of Aecon's portion of the construction contract is expected to be approximately $250 million. Financing for the project was arranged by Alberta Treasury Branches as Lender and CIBC World Markets Inc., as Senior Bond Underwriter. write your comments about the article :: © 2014 Construction News :: home page |