Parsons Consortium Reaches Financial Close on Highway 401 Expansion Project in Greater Toronto Area
CENTREVILLE, VA (April 29, 2019) – Parsons is pleased to announce that West Corridor Constructors has reached financial close on the Highway 401 Expansion project in the Greater Toronto Area of Ontario, Canada. West Corridor Constructors, selected by Infrastructure Ontario and the Ministry of Transportation Ontario to design, build and finance the project, is a consortium comprised of Aecon (50%), Parsons (30%) and Amico (20%). The total contract is valued at C$639.8 million.
The Highway 401 Expansion encompasses approximately 18 km of reconstruction and widening in the western part of the Greater Toronto Area, from the Credit River in Mississauga to Regional Road 25 in Milton. It consists of two 10-lane segments, two 12-lane core collector systems, and median high-occupancy-vehicle lanes. The scope of work also includes bridge reconstruction and replacement, structural culvert replacements, drainage and utilities work, and ecological restoration.
“Alternative project delivery vehicles help customers mitigate risk in capital improvement programs,” said Donald Graul, President of Parsons Construction, the corporation’s center of excellence integrating advanced technology on design-build-finance programs. “This important project will improve mobility for both commuters and cargo in a commercially significant corridor.” Graul added “We’re honored to partner with Aecon and Amico to deliver this expansion on behalf of Infrastructure Ontario, the Ministry of Transportation Ontario, and Greater Toronto Area drivers.”
Parsons’ participation in the Highway 401 Expansion builds on the corporation’s strong credentials for alternative project delivery in the North American market with more than $42 billion in projects delivered. Construction of the Highway 401 Expansion is expected to begin in the fourth quarter of 2019.
Parsons is a leading provider of technology-driven solutions focused on the defense, intelligence, and critical infrastructure markets. Celebrating 75 years of operations, Parsons provides technical design and engineering services and software to address our customers’ challenges. Parsons has differentiated capabilities in cybersecurity, intelligence, defense, military training, connected communities, physical infrastructure, and mobility solutions. Parsons’ combination of talented professionals and advanced technology enables a safer, smarter, and more interconnected world. For more about Parsons, visit parsons.com, and follow us on Facebook, Twitter, LinkedIn, and YouTube.