The Government of Canada today revealed that it is moving ahead with the development of a high speed rail line between Quebec and Toronto. The infrastructure project is slated to become Canada’s largest infrastructure project.
The high frequency rail line is set to run through the major centres of Toronto, Peterborough, Ottawa, Montreal, Trois-Rivieres, and Quebec City, with the project slated to provide faster service between the centres while also reducing pollution. The line, once in operation, is estimated to reduce the journey time between Toronto and Ottawa by up to 90 minutes.
In connection with the announcement, the government has launched the request for qualifications, or RFQ, phase of the project. This stage aims to identify and qualify up to three candidates that will then move forward to the request for proposal, or RFP process. The process itself is geared towards finding a private developer partner that will work with VIA HFR, a subsidiary of VIA Rail.
With the launch of the RFQ process, the procurement process for the project has formally begun. The outline for the project is said to be flexible for the selected developers, and is open to alternatives. One alternative, as outlined by the Government, is the ability for speeds of the rail line to exceed 200 km/hr along certain segments.
The government is said to be looking for a private sector company that have experience in large-scale projects, with Canadian expertise, labour, and companies through all phases.
The current budget is said to have allocated nearly $400 million to the project over the next two years to continue to advance the project and begin the procurement stage. The current timeline estimates that the request for proposal portion of the project will begin in August 2023, with proposals to be evaluated in summer 2024.
Information for this story was found via the Government of Canada, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
