IBI GROUP INC. Friday, July 31, 2015
IBI Group (TSX: IBG), the Design Engineering Joint Venture (DEJV) partner with SNC-Lavalin, is pleased Crosslinx Transit Solutions consortium has achieved financial close for the design, build, maintenance and finance of the Eglinton Crosstown Light Rail Transit (ECLRT) project.
The Province of Ontario announced an investment of $5.3 billion (2010) for capital (construction costs) for the Crosstown LRT. As the largest transit project and part of Metrolinx's Regional Transportation Plan, the 19 km LRT line will span Eglinton Avenue from Mount Dennis Station in the west end to Kennedy Station on the east side and will include 25 stations and stops.
IBI Group will co-lead in managing the entire design team including over 24 key and specialty sub-consultants, each renowned in its field of expertise.
"This is a major accomplishment for the team and a tremendous opportunity for IBI Group to apply its extensive and multi-disciplinary expertise in the provision of sustainable and efficient transit solutions" said Scott Stewart, CEO of IBI Group. "We are proud and excited to participate in this great project that will help define the Toronto of tomorrow".
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