Webuild, formerly Salini Impregilo, and its partners in the Mobilinx consortium have won the “Proximo North America Rail Deal of the Year 2019” for the most innovative project financing transaction in the case of the €917-million (about CAN$1.3-billion) construction of Metrolinx’s Hurontario light rail transit line near Toronto, Canada. Astaldi, which is becoming part of Webuild under Progetto Italia (Project Italy) to consolidate Italy’s fragmented construction sector, was part of the consortium when the project was awarded in October 2019.
The award recognises the way risk allocation was better distributed for the project, according to Proximo, a media events and information group specialized in the infrastructure sector. “The combined bond and construction financing allows for large-scale extensions without separate bondholder approvals while largely maintaining the risk profile. The debt tranches have been structured to match the project company’s payment profile with the objective of minimizing the overall cost of capital.”
The 18-kilometre, 19-stop light rail transit system will run along Hurontario Street from Port Credit in Mississauga to the Brampton Gateway Terminal outside Toronto. Canada is one of the markets where the Group plans to expand thanks to its low risk profile and plans to invest in infrastructure. Other markets include the United States, Europe and Australia.
Webuild recently joined the shortlist to design and build the CAN$1.7-billion (€1.15-billion) Valley Line West Light Rail Transit project in Edmonton, Canada, the second stage of the Valley Line, a line that will operate between the city’s west and southeast districts. The project for the 14-kilometre-long line will feature 14 stops and two elevated stations, two bridge crossings, connections to transit centres, and a transfer point with current two lines of the light rail transit system.
With a combined track record of more than 13,637 kilometres of rail and metro lines over the span of 114 years, Webuild is a major contributor to the development of urban and extra-urban mobility, with projects that support efforts to reduce traffic congestion and air pollution by offering safe, efficient and environmentally friendly public transport services.
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