Madrid, 6th July, 2018
Iridium, through its affiliate ACS Infrastructure Canada, has been named Preferred Proponent by Windsor Detroit Bridge Authority (entity dependent of the Federal Government of Canada) to design, build, finance, operate and maintain the Gordie Howe International Bridge project connecting Canada and USA. The project is valued at over 4.0 billion Canadian dollars, and the agreement includes the operation, maintenance and rehabilitation of the project throughout 30-years. The preferred consortium, Bridging North America, is formed also by a North American partner, Fluor. ACS Infrastructure Canada holds a 50% share in the concessionaire and in the operations, maintenance and rehabilitation scope meanwhile Dragados Canada leads the construction joint venture and holds a 50% share as well.
The public-private-partnership (PPP) scheme for the project includes the design, build, finance, operation and maintenance of a new international bridge between Windsor (Canada) and Detroit (United States), as well as the ports of entry in each country. The project includes a six lane (3 per direction), 2.5km cable stayed bridge which will cross the Detroit River between both countries and whose main span of 850 m will be one of the longest in North America and one of the largest in the world. The Project also includes the construction and maintenance of the Canadian Port of Entry (53 hectares) and the US Port of entry (68 hectares) including all the buildings to control the vehicles and pedestrians in the respective sides of the border and construction works (without maintenance) on the I-75 Highway that connects Detroit with the Bridge.
The Windsor-Detroit corridor is one of the main and most congested international corridor in North America and develops a fundamental role in the industry growth of both countries, especially in the automobile sector. This new project will provide new border crossing capacity to meet increased long-term international trade and travel demand, supporting the national, regional and local (host community) economies on both sides of the border.
Commercial Close (execution of the Project agreement) and Financial Close are expected by the end of September 2018