Serco joins SNC-Lavalin as preferred bidder for Canadian rapid rail transit line
Date : 04 March 2005
Serco Group plc's North American division, Serco Group Inc, ("Serco") has joined SNC-Lavalin Inc., the preferred bidder for a proposed rapid rail transit line in Vancouver, Canada, as partner for the operations and management (O & M) of the project.
The SNC-Lavalin/Serco proposal is for a fully automated, driverless, system which would connect Vancouver, Richmond and Vancouver international airport ,"RAV Project".
SNC-Lavalin will be responsible for the design, construction of the line and the management of the funding aspects of the contract.
Construction is expected to take five years, after which Serco and SNC-Lavalin would operate and maintain the line under a 30 year agreement. This O & M part of the contract is expected to generate annual revenues of between C$16m and C$20m for Serco, which is estimated to be some C$500m over the life of the contract.
Christopher Hyman, Chief Executive of Serco Group plc said: "We are delighted to join SNC-Lavalin as preferred bidder for the operations and management of the RAV Project. The contract is significant for Serco as it will be the company's first rail operating contract in North America, building on our international light rail services including the Docklands Light Railway in London, Metrolink in Manchester and the Metro in Copenhagen, Denmark."
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