This marks CIB’s second investment, with the only previous commitment being its $1.28 billion backing of Montreal’s Réseau express métropolitain (REM) project.
Allowing developers to build above transit stations in exchange for constructing new station facilities reduces the cost of transit expansion projects.
The firms will provide technical advisory, design, and construction support services for a 20km extension of the GO Transit service east from Oshawa to Bowmanville.
Scope of work includes in-corridor enabling works at stations, grade separation, pedestrian bridge replacement and more.
The scope of work includes multi-level parking with integrated station, pedestrian bridges, surface parking, rail/road separation and more.
A successful bidder is expected to be announced in summer 2018.
Five teams are prequalified to build and finance the Barrie Rail Corridor Expansion – Grading project.
The project includes construction of a grade separation structure between the north/south GO Rail corridor and east/west CP Rail corridor.
GO Transit, short for Government of Ontario Transit, began operating on May 23, 1967, as a 14-stop commuter rail line.