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[h=1]Top LRT bid comes in under budget[/h]
[h=2]LRT[/h] Philip Walker, Record staff file photo
A prototype of an LRT train shown in front of Waterloo Region headquarters in July of 2013. The leading construction bid to build the LRT, announced Friday afternoon, has come in at $532 million - under the $545 million the region said it budgeted.
By
Paige Desmond
WATERLOO REGION — The leading construction bid to build the Region of Waterloo's rapid transit project has come in millions under budget.
Officials revealed Friday the top of three bids on the light rail system came in at $532 million to build — under the $545 million the region says it budgeted.
"This is a very significant milestone because the last building block is now in place barring any unforeseen issues in terms of the approval of this on Tuesday…we will know who our partner is for the next 30 years," Coun. Jim Wideman said.
Councillors will vote Tuesday whether to approve the bid.
The actual bid is for $593 million.
About $61 million isn't included in the light rail budget. It comes from other project budgets — for example for planned roadwork being done as part of the project and infrastructure upgrades in conjunction with local cities.
A $10-million contingency is included in the region's construction budget.
The top bid comes from GrandLinq, a construction consortium made up of contractors including:
•Plenary Group Canada Ltd.
•Meridiam Infrastructure Waterloo LRT ULC
•Aecon Construction and Materials Ltd.
•Aecon Concessions
•Peter Kiewit Infrastructure Corp.
•Kiewit Canada Development Corp.
•Mass Electric Construction Canada Co.
•Keolis SA
•Keolis Canada Inc.
•AECOM Canada Ltd.
•STV Canada Construction Inc.
•CIBC World Markets Inc.
pdesmond@therecord.com
Twitter: @DesmondRecord