Saskatchewan Ministry of Highways and Infrastructure
Substantially Complete October 2019
Final Completion: October 2020
Design Build Entities: Carmacks Enterprises Ltd.; Parsons Canada, Ltd.; Graham Infrastructure LP; Vinci Infrastructure Canada Limited
Project Co. Entities: Connor, Clark & Lunn GVest Traditional Infrastructure Limited Partnership; Graham Capital Partners LP; Parsons Canada, Ltd.; Vinci Infrastructure Canada Limited
The Regina Bypass is a $1.88 billion public-private partnership (“P3”) project led by a consortium that includes Graham Capital and Graham Infrastructure. It is the first transport infrastructure project to be completed using the P3 delivery model in Saskatchewan, and the largest transportation infrastructures project in the province’s history. The scope of work includes the design, financing, construction, operation and maintenance of 61 km of the 4-lane highway over a term of 30 years. With 37 km of a 4-lane highway and 12 interchanges to be built, and an additional 24 km to refurbish, the project encompasses about 400 lane-kilometres worth of work.
Graham Capital was highly involved in providing overall strategic direction to the consortium, client meetings, commercial discussions amongst the consortium and lenders, proposal management and the communications approach. Following financial close, Graham Capital sits on the Project Co board of directors and provides oversight and guidance throughout the construction and operations period.
Graham Capital led the financing for the project and provided a fully committed financing plan at bid, consisting of short-term revolving credit facility and long-term bonds (amortizing and bullet). As a testament to Graham Capital’s financing approach, the project reached financial close in 60 days of being announced preferred proponent.
Graham Infrastructure is one of the lead partners in the JV organization: Regina Bypass Design Builders (“RBDB”). RBDB is responsible for the design and construction of the Regina Bypass’ infrastructure works and ensuring project completion for turnover to operations and maintenance. The infrastructure works includes, but is not limited to the following:
For the infrastructure works, RBDB is responsible for the full delivery of the project from initial design, planning and procurement to turnover of the infrastructure for maintenance.