A Quebec pension fund has named two groups centered on SNC-Lavalin as preferred suppliers to design, build, and provide vehicles for a new Cdn $6.3-billion LRT in Montreal.

The Réseau express métropolitain (REM), a project run by the infrastructure arm of the Caisse de dépôt et placement du Québec (CDPQ), has a unique financial structure. The pension fund is putting up Cdn $2.95 billion in equity, and Canada’s federal and Quebec governments are each contributing Cdn $1.28 billion in equity.