Consortium wins $544-million contract for Trans-Canada highway project in New Brunswick
The Brun-Way Group, incorporating SNC-Lavalin and its joint venture partner Atcon Construction, has won a $543.8 mi...
The Brun-Way Group, incorporating SNC-Lavalin and its joint venture partner Atcon Construction, has won a $543.8 million contract to complete the four-lane Trans-Canada Highway in New Brunswick.
The agreement, announced February 7, calls for the group to design, construct and finance 98 kilometres of highway between Grand Falls and Woodstock close to the province’s western border with Maine. They will also upgrade 128 kilometres of existing four-lane highway.
The Brun-Way Group will also be operating and maintaining the entire 275-kilometre stretch of highway between the Quebec border and Longs Creek until 2033. For this, the Province of New Brunswick is to pay them $18.8 million annually, indexed every year.
The consortium has raised funds from SNC-Lavalin Capital, Manulife Financial, Sun Life Financial and Caisse de depot et placement du Quebec to build the project.
SNC-Lavalin already operates and maintains another major highway in Canada, the 407 toll expressway north of Toronto. It is a part-owner of that highway.