City of Ottawa and TransitNEXT reach financial close on Stage 2 Trillium Line south extension
Today, the City of Ottawa and TransitNEXT reached financial close on the Stage 2 Trillium Line south extension. This milestone was achieved following the execution of the transfer payment agreements with both the federal and provincial governments earlier this week, securing a total $2.366 billion contribution to Ottawa's Stage 2 LRT Project.
Stage 2 will extend the O-Train network farther south, east, and west, adding approximately 44
With
The Stage 2 Trillium Line south extension will add 16
The agreement with TransitNEXT for the Trillium Line Extension is a fixed-price contract worth $663 million, with SNC-Lavalin providing an additional $136 million in private capital contributions upfront. When including the long-term cost to maintain and rehabilitate both the existing Trillium Line and its new extension, the total project is valued at $1.6 billion.
In reaching financial close, the City of Ottawa and TransitNEXT have signed all the project and financing agreements, which enable access to funding and project implementation. In the coming weeks, the contract will be posted on the accountability and transparency section of the City's website, with appropriate redactions pursuant to MFIPPA and translation requirements.
The TransitNEXT team will begin to mobilize on-site and start site preparatory work in the coming weeks. Construction is anticipated to be complete in 2022, with testing, commissioning and training carried out as segments are completed.
When complete, Stage 2 will bring 77