Translink Awards Contract for $1.72 Billion Rapid Transit Line in Vancouver

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated Houston, Texas). Translink, the Greater Vancouver Transportation Authority, (Burnaby, British Columbia,), has awarded a design-build-operate-maintain (DBOM) contract to a joint venture of SNC-Lavalin Incorporated and Serco Group Incorporated (Vancouver, British Columbia) for the $1.72 billion Richmond Airport Vancouver (RAV) rapid transit line in Vancouver, British Columbia.

As part of the joint venture agreement, SCN Lavalin/Serco will construct the fully, automated, grade-separated transit system from Waterfront Station in Vancouver to the Vancouver International Airport and Richmond Centre.

Plans are to construct a 19.5-mile light rail system from downtown Vancouver to the University of British Columbia, along Broadway Avenue. The line would be underground from downtown to Cambie and 63rd Avenue, after which it would run on an elevated track to the airport terminus and Richmond Centre. The new line will include eighteen stations and construction is anticipated to begin in August 2005, with completion slated for the fall of 2009.

(Translink), the Greater Vancouver Transportation Authority, was created as a new agency in April 1999 by the Greater Vancouver Regional District (GVRD) and the provincial government. This new organization is involved with transportation planning, management of capital projects, administration of service contracts with subsidiary companies and contractors, financial management and planning, public affairs, and supporting business functions. Translink has dedicated sources of revenue to permit longer term revenue forecasting coupling with the ability to raise additional revenue and providing greater certainty for service funding and the ability to create longer-term program and capital plans. Translink's 2004 Budgeted Revenues total funding was $660 million and their total cost for Budgeted Expenses was $668.4 million, with $10 million drawn from reserves. Translink has made yearly contributions to capital reserves for new roads and bridges, intending to draw matching funds from senior governments.

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