Pattullo Bridge Replacement Project reaches financial close

10 February 2020

On Feb. 10, 2020, Aecon Group Inc. (TSX: ARE) announced that Fraser Crossing Partners had reached financial close on the Pattullo Bridge Replacement Project in British Columbia. The total contract is valued at $967.5 million.

Fraser Crossing Partners, selected by the Province of British Columbia to design, build and partially finance the project, is a 50/50 joint venture between Aecon and Acciona.

The new four-lane cable-stayed bridge over the Fraser River will provide network connections to New Westminster and Surrey, feature a centre safety median barrier and wider lanes to accommodate both passenger and commercial vehicles, and have dedicated walking and cycling lanes. The project also includes the construction of connecting roadways on the north and south sides of the bridge, grade separations on Highway 17, and the removal of the existing bridge once the new bridge is complete.

Early construction activities are expected to commence in the first quarter of 2020, with the new bridge expected to open in 2023, and full project completion expected in the fourth quarter of 2025, following the removal of the existing bridge.

Gowling WLG is counsel to both Acciona and Aecon with a team that includes Darryl Brown (corporate/financial services); Adam Lewinberg, Jessica Ho-Wo-Cheong, Kelly Campagnola, Peter Fairey and Kean Silverthorn (corporate); Christopher Alam, Sunil Joneja and Reagan Chornoboy (financial services); assisted by students-at-law Laura Mila, Taylor Hanson and Howard Xin.

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