The Eglinton Crosstown LRT P3 contract signed by Infrastructure Ontario (IO) project is worth Cdn $5.3 billion in design-build expenditures and is valued at Cdn $9.1 billion adjusted for inflation, by the time the 30-year DBFM deal ends. So said IO on Nov. 3 after making a long-delayed announcement of the July financial close.

The deal has been de-risked to reduce the amount and cost of funds raised by the developer Crosslinx Transit Solutions, which aims to invest $100 million in equity. During construction, the four equal members—AECON, ACS Infrastructure Canada, EllisDon, and SNC-Lavalin—will receive monthly payments that total about Cdn $780 million, which is close to the Cdn $731.9 million the consortium borrowed.