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Jul 1, 2019
Corporate

Meridiam raises to 100% its stake in the NEAH Ring Road concession in Edmonton, Canada

Meridiam has acquired the remaining 50% interest in the Northeast Anthony Henday (NEAH) concession, from partners ACS Infrastructure Canada and HOCHTIEF PPP Solutions. These acquisitions increase Meridiam’s existing stake from 50% to 100% in the concession.

Following this transaction, Meridiam now fully controls the Project Company Capital City Link GP and will oversee the operation and maintenance of the Northeast Anthony Henday highway infrastructure for the next 27 years.

The NEAH highway was opened in October 2016. It is the last section of the ring road around Edmonton, Alberta’s capital city and Canada’s sixth largest city with a metropolitan population over one million1. Anthony Henday Drive is the first free-flowing ring road in Canada, with an estimated 50,000 motorists using it every day2.

NEAH is a vital part of Alberta’s provincial road network, improving mobility, access and quality of life for Edmonton residents and Albertans. It diverts a portion of the traffic from the city center and allows some long-distance traffic to avoid downtown city of Edmonton. Thus, lowering congestion while improving air quality and mobility for Edmonton residents and suburban residents living in adjacent neighborhoods.

The highway concession also helps promote the long-term economic sustainability and local employment of the Edmonton metropolitan region. As an example, it is anticipated that over the full duration of the maintenance contract, more than 2,000 jobs will be required for ongoing maintenance, rehabilitation and operation of the NEAH3.

The NEAH highway therefore directly contributes to the United Nation's sustainable development goals (UN SDGs), promoting well-being, quality of life and economic development (UN Sustainable Development Goals 9 and 11).

The NEAH highway concession is structured as an availability-fee Public Private Partnership with a term of 34years and a 30-year Operation and Maintenance period. The NEAH highway consists of 27 km of 6- and 8-lane divided roadway (9 km of new construction and 18 km of highway reconstruction), 9 interchanges, 10 flyovers, twin bridge structure across the North Saskatchewan River, and a total of 48 bridge structures, as well as operation and maintenance of associated existing highway infrastructure.