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The TSDC is a design, build, finance, and maintain project, with a term of 30 years. ITS successfully prequalified for the TSDC bid in the fall of 2008, submitted the proposal in May 2009 and was named as the Preferred Proponent in August 2009. The project has a net present value of approximately $593.9 million. Equity financing was provided by Fengate Capital Management Ltd. via an investment on behalf of LPF Infrastructure Fund, and by EllisDon Inc. Senior debt financing was provided by a consortium of lenders including Calyon, Norddeutsche Landesbank, Banco Espirito Santo de Investimento, Bank of Montreal, Canada Life Assurance Company and Sun Life Assurance Company.
The TSDC project, which includes a 1,650-bed maximum security facility for adult inmates, a 320 bed intermittent centre, including those with special needs, is being built to replace the Toronto Jail and will be located on the south portion of the Mimico Correctional Centre property in Etobicoke. Construction on the project, which is targeting Leadership in Energy and Environmental Design (LEED(R)) Silver certification, is set to commence in October 2009 and will be completed in fall 2012. The TSDC will also feature a Geothermal Ground Source Heat Exchanger that will produce 7.8 terra joules of renewable energy per year.
"The ITS team is delighted and honoured to have been chosen by IO and MCSCS to deliver this essential facility," commented Stephen Gash, EllisDon's V.P. of Public Infrastructure Development. "This project is a serious responsibility and we intend to deliver fully on all of our commitments. The team is looking forward to the challenge."
About Integrated Team Solutions
ITS represents a joint venture between EllisDon Corporation and Fengate Capital Management Ltd. The firms came together for the purpose of pursuing design, build, finance, and maintain projects across Canada. ITS brings together an integrated team of professionals who possess industry-leading infrastructure development and financing experience, and have achieved financial close on DBFM projects with a total capital cost in excess of $550 million. For more information about EllisDon and Fengate Capital please visit www.ellisdon.com and www.fengatecapital.com.
About Infrastructure Ontario
Infrastructure Ontario is a Crown corporation dedicated to managing some of the province's larger and more complex infrastructure renewal projects - ensuring they are built on time and on budget. Visit www.infrastructureontario.ca for more information.
SOURCE: EllisDon Corporation
Rishma Mangat, EllisDon Corporation, Phone: (905) 896-8900, Fax: (905) 896-8911, 89 Queensway Ave West, Suite 800, Mississauga, Ontario, L5B 2V2, www.ellisdon.com
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