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Ontario Teachers' Pension Plan and Morgan Stanley Infrastructure Acquire SAESA Group

Posted on July 25, 2008
The Ontario Teachers' Pension Plan (Teachers') and Morgan Stanley Infrastructure (MSI) are partnering to buy SAESA Group (SAESA), a Chilean electricity distribution, transmission and generation company from Public Service Enterprise Group (PSEG) for US$887 million (the enterprise value of the company is US$1.3 billion). Teachers' and MSI each own 50 per cent of the company and have assumed approximately US$400 million in existing company debt. "As an international infrastructure investor, we are very pleased to be a new, long-term shareholder of SAESA's [...]

B.C. Gets Highway Project Dollars

Posted on July 24, 2008
Another in a series of Building Canada announcements today: the governments of Canada and British Columbia will jointly fund up to $231 million worth of National Highway System improvements in the province. The first project to receive funding involves constructing a 9-kilometre four lane highway west of the existing 2-lane section of Highway 97 between Winfield and Oyama, British Columbia. The federal government will provide up to $33.6 million through the Building Canada Fund, and the Province will contribute $44.3 million toward the total $77.9 million [...]

N.B. Bypass Construction Begins

Posted on July 24, 2008
Federal and provincial officials broke ground on the first phase of the Nashwaak/Marysville Bypass on Route 8 yesterday. An excavator turned the sod in the Fredericton neighbourhood of Marysville where the 36-kilometre project begins. Funding for the project comes from a five-year, $214-million commitment by the governments of Canada and New Brunswick. The new access-controlled highway will bypass the existing Route 8 for a distance of 36 kilometres from Marysville to South Portage along the east side of the Nashwaak River. It will eliminate through [...]

Ontario Gets $6.2B to Build Canada

Posted on July 24, 2008
This morning, the governments of Canada and Ontario signed a $6.2-billion Building Canada infrastructure Framework Agreement in London, Ontario. The funds, which will address infrastructure needs and priorities in Ontario until 2014, initially target improvements to Highway 11/17 in northwestern Ontario, Ontario rural broadband coverage, Waterloo Region rapid transit, and the Huron Elgin London Project (HELP) for clean water. Lawrence Cannon, minister of transport, infrastructure and communities, George Smitherman, Ontario deputy premier and minister [...]

LS Power and Global Infrastructure Partners wants to buy TransAlta

Posted on July 22, 2008
TransAlta Corp.'s board is said to be "carefully considering" an American private-equity takeover valued at about $7.8 billion. LS Power Equity Partners has offered the Alberta-based power generator $39 per share in cash. LS Power Equity Partners and Luminus - creatures of the privately held LS Power group which is closely related to Houston-based Dynegy Inc. (TSX:DYN) - own nine per cent of TransAlta. LS Power Equity Partners and Global Infrastructure Partners, both headquartered in New York, said TransAlta's head office and corporate infrastructure [...]

InfraStats for Edmonton

Posted on July 15, 2008
"Delivering the Goods: Infrastructure and Alternative Revenue Sources for the City of Edmonton" is the latest discussion paper out of the Canada West Foundation (CWF). Released today, the paper assesses the capacity of Edmonton's current sources of revenue to meet a growing infrastructure gap — the city says the deficit is up to $19.2 billion over the next 10 years (2008-2017). "The purpose of the paper is to identify potential solutions for the City of Edmonton in reducing the shortfall in funding for building and maintaining infrastructure," said [...]

More Building Canada Agreements

Posted on July 14, 2008
Prince Edward island and New Brunswick are the latest to sign on to the Building Canada Plan, which means they’re entitled to some funding. Today, federal and provincial governments signed the Communities Component of the Building Canada Plan in Charlottetown, PEI, and officially launched the new program. Through the Communities Component, the federal and provincial governments together will invest $44 million through until 2014, which will help meet the local infrastructure needs and priorities of Prince Edward Island communities. With matching contributions [...]

Green Municipal Fund Offers Low-Interest Loans for Brownfield Remediation

Posted on July 14, 2008
The Federation of Canadian Municipalities (FCM) has changed the way the Green Municipal Fund (GMF) helps finance the remediation of brownfield sites. Up to $20 million in low interest loans will be made available to municipal governments and their partners. FCM reps told ReNew Canada, “This GMF offering is the product of a real rethink of how we’ve funded brownfield projects in the past: we consulted extensively with practitioners and redesigned the application process and the loan disbursement structure to better suit their needs. This is a step away [...]

Majority of Caledon Residents Support Growth Plan

Posted on July 9, 2008
The findings of a public opinion poll released yesterday by the Caledon Countryside Alliance (CCA) confirm environmental issues remain a high priority for residents of Caledon. The research was conducted by Oraclepoll Research June 13-19, and was commissioned to evaluate residents’ current environmental attitudes and practices. This polling data is consistent with a similar study done in 2004. “The survey results re-confirm our understanding of Caledon residents,” says Karen Hutchinson, CCA’s executive director. “With Caledon’s natural and [...]

$272M For Smaller B.C. Communitites

Posted on July 9, 2008
For the first time, smaller British Columbia communities with populations of less than 100,000 can now access more funding for cleaner water, better waste management and flood mitigation, thanks to a $272-million investment through the Building Canada Plan. Until 2014, the federal and provincial governments will each invest $136 million to be applied to projects approved under the Communities Component, which includes $25 million for flood mitigation. Together with matching funds from the local governments, $408 million will be available, through until [...]
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