Bird has an interest in, and is also the managing partner of, the construction joint venture to design and build the project. Bird will also take a minority equity interest in the concession responsible for the design, construction, financing and maintenance of the project through Bird Capital, a wholly-owned subsidiary.
The East Rail Maintenance Facility will be a 500,000 sq. ft. building, including over 16 kilometres of rail track that will provide maintenance, repair and additional storage for GO trains in support of GO Transit’s planned service expansion. The consortium plans to reach financial close early in 2015 and commence construction activity shortly thereafter, with a scheduled completion date in late 2017. At this time, there can be no assurances that the consortium will receive a contract award related to this project.
The company has also recently been awarded a fixed price contract to construct the Hamilton Transit Centre in Richmond, BC, which consists of a new bus maintenance and operations centre, with a focus on servicing Translink’s new fleet of energy efficient Compressed Natural Gas buses. The project is comprised of six buildings totaling 167,000 square-feet. Construction will commence shortly and completion is expected in the fall of 2016.
“The company is very excited about the East Rail Maintenance Facility which reflects Bird’s ongoing commitment to actively pursue construction and equity investment opportunities in the PPP market across Canada, while the Hamilton Maintenance Facility contract award will further contribute positively to our work program over the course of the next few years,” said IanBoyd, Bird’s president and CEO.