Toronto and Nottingham projects reach financial close

Steer Davies Gleave is pleased to have supported two important PPP infrastructure projects that reached financial closure earlier this month.

The first is in Nottingham (UK) where we advised the Tramlink Nottingham consortium over the past two years. Tramlink will take over operations of the existing light rail system and begin construction of the two new lines in early 2012, in a deal that is worth £570 million. The two new lines are planned to open in late 2014.

The second is in Canada where the Toronto Airport Rail Link has reached an important milestone, with financial close reached on the construction of the new spur, worth $124 million. SDG has provided advice on the passenger market and revenue for Metrolinx; the line is planned to open in 2015 in time for the Pan/ Parapan American Games.

Danielle Czauderna, a Principal Consultant at Steer Davies Gleave, said: “This is great news for our consortium partners and we’re really pleased for all the stakeholders involved.  The Nottingham project has a strong business case and will provide a massive boost to the local economy. The Toronto Airport Rail Link project represents a vital connection between a rapidly growing airport and downtown Toronto.”