Financial Close Achieved For Five Alberta Schools Under DBFM Contract
MISSISSAUGA, ON, Sept. 29, 2021 /CNW/ - Bird Construction Inc. ("Bird") announced today that Concert-Bird Partners has achieved financial close on the previously disclosed contract with Alberta's government for the Design, Build, Finance, and Maintain (DBFM) contract for five Alberta high schools. The project has a total combined contract value in excess of $300 million and is a part of Alberta's Recovery Plan to create jobs and diversify the economy.
Concert-Bird Partners is a consortium comprised of Bird Capital Limited Partnership, Bird Design-Build Construction Inc., Concert Infrastructure Ltd., Ainsworth Inc., BR2 Architecture and Wright Construction Western Inc.
Under the public-private-partnership (P3) model, Concert-Bird Partners will deliver five new Alberta high schools including two in Edmonton and one in each of Blackfalds, Leduc, and Langdon. Once complete, the schools will accommodate nearly 7,000 students. Designs for the schools will include considerations for optimized building performance, energy conservation and other sustainable building features, including achieving a LEED™ Silver Certification. Work on-site is to commence at South Eastern High School in the fall of 2021, with Leduc, Heritage Valley High Schools Langdon and Blackfalds High Schools commencing in the spring / summer of 2022. All of the High Schools are scheduled for completion to meet the Target Total Availability date of May 31, 2024.
Financing for the project was arranged jointly by Bird Capital Limited Partnership and Concert Infrastructure Ltd. and will be repaid by the project concession company throughout the 30-year maintenance term.
"We are very pleased to have the opportunity to deliver this important project that leverages our team's demonstrated execution experience in institutional building construction, underpinned by our strong partnership with Concert Infrastructure," said Mr. Teri McKibbon, President and CEO of Bird Construction Inc. "Bird's track record and expanded platform positions us to take advantage of the opportunities that continue to come to market in this sector. We remain focused on building a balanced backlog across sectors and geography, and our equity position through Bird Capital further supports long-term shareholder value creation."
This press release contains forward-looking information (as defined in applicable Canadian securities legislation) that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to materially differ from those expressed or implied by the forward-looking information.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
T.L. McKibbon, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone: (905) 602-4122
About Bird Construction
Bird (TSX: BDT) is a leading Canadian construction company operating from coast-to-coast and servicing all of Canada's major markets. Bird provides a comprehensive range of construction services from new construction for industrial, commercial, and institutional markets; to industrial maintenance, repair and operations services, heavy civil construction, and mine support services; as well as vertical infrastructure including, electrical, mechanical, and specialty trades. For over 100 years, Bird has been a people-focused company with an unwavering commitment to safety and a high level of service that provides long-term value for all stakeholders. www.bird.ca
SOURCE Bird Construction Inc.
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