17:58:59 EDT Mon 13 May 2024
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SNC-Lavalin Group Inc
Symbol ATRL
Shares Issued 175,554,252
Close 2024-01-05 C$ 42.19
Market Cap C$ 7,406,633,892
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SNC-Lavalin, Bird enter deal for Toronto transit hub

2024-01-08 09:07 ET - News Release

Mr. Ian Edwards reports

ATKINSREALIS JOINT VENTURE HAS ENTERED INTO AN ALLIANCE DEVELOPMENT AGREEMENT TO DELIVER A NEW TRANSIT HUB IN TORONTO

AtkinsRealis (SNC-Lavalin Group Inc.) and Bird Construction have entered into an alliance development agreement to work collaboratively with Metrolinx to deliver the East Harbour Transit Hub: a new interchange station that is part of a broader transit-oriented community plan for Toronto. AtkinsRealis is partnered with Bird under the Rail Connect (RC) Partners joint venture.

Under the alliance development agreement, services include optimizing the design solution, preparing detailed estimates for resources, costs and schedules, preparing a project proposal, finalizing the project alliance agreement, and performing early works.

"The alliance development agreement represents a significant development for us in how we execute large projects without a fixed price contract model; we are thrilled to work closely with our alliance partners to apply this collaborative model to deliver an exciting new regional transportation hub," said Ian L. Edwards, president and chief executive officer, AtkinsRealis. "We are proud to contribute to improving transportation links in the Greater Toronto Area and developing innovative solutions to improve accessibility for commuters."

The East Harbour Transit Hub will support local transit needs in the community and regional connectivity, through the incorporation of the GO Train, Ontario Line subway and future Toronto Transit Commission (TTC) light rail transit. Service levels planned as part of GO Expansion would see a GO train arriving as frequently as every five minutes.

About SNC-Lavalin Group Inc.

Created by the integration of long-standing organizations dating back to 1911, AtkinsRealis is a world-leading professional services and project management company dedicated to engineering a better future for the planet and its people. It creates sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. It deploys global capabilities locally to its clients and delivers unique end-to-end services across the whole life cycle of an asset, including consulting, advisory and environmental services, intelligent networks and cybersecurity, design and engineering, procurement, project and construction management, operations and maintenance, decommissioning, and capital. The breadth and depth of the company's capabilities are delivered to clients in key strategic sectors such as engineering services, nuclear, operations and maintenance, and capital.

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