Calgary Airport-Banff Passenger Rail Project enters design phase

CALGARY – Liricon Capital Ltd. (Liricon) and Plenary Americas (Plenary), a portfolio company of Caisse de dépôt et placement du Québec (CDPQ), are pleased to announce that they have submitted an Enhanced Unsolicited Proposal (the Proposal) to the Government of Alberta’s Ministry of Transportation (Alberta Transportation), Invest Alberta Corporation (Invest Alberta), and the Canada Infrastructure Bank (CIB) to advance the Calgary Airport – Banff Rail (CABR) project from Phase 3, Development, to Phase 4, Design. This advancement positions the project for success in the fifth and final phase, Construction and Implementation. 

The Proposal is structured as a public-private-partnership (P3), which contemplates financing from private and institutional capital and the CIB. That approach creates the opportunity for the Government of Alberta to leverage private sector capital and expertise and CIB financial support to deliver a world class airport to downtown to mountain rail system by 2025 that has the potential to be hydrogen powered.  CABR will increase labour mobility, diversify Alberta’s economy and enhance the environment. Polling indicates that 82% of Albertans and 90% of Canadians support the project (Advanis, 2019).

Read the full news release here.