Vinci boosts stake in Confederation Bridge

Vinci Highways agreement to buy OMERS Infrastructure's shares in Strait Crossing Development (SCDI) will boost the French group’s stake in SCDI, the Canadian bridge's concession holder.
By David Arminas April 15, 2022 Read time: 2 mins
The 12.9km Confederation Bridge, which opened in 1997, connects Canada’s island province of Prince Edward Island to the mainland province of New Brunswick

Vinci Highways is to acquire a controlling stake in Strait Crossing Development (SCDI), the concession holder for the Confederation Bridge concession in Canada’s Atlantic region.

The 12.9km bridge spans the Northumberland Strait was opened in 1997, connecting the island province of Prince Edward Island to the mainland province of New-Brunswick – Canada’s longest bridge. The French Vinci Group – parent of the concessions business Vinci Highways - had been involved throughout the construction phase of the bridge, the world's longest over ice-covered water.

Vinci Highways agreement with OMERS Infrastructure is to acquire its 65.1% stake in Strait Crossing Development Inc (SCDI), the company owning the concession contract for the Confederation Bridge until 2032.

With the acquisition, Vinci Highways, a long-term shareholder of SCDI, increases its stake in the company from 19.9 per cent to 85 per cent. SCDI generated revenues of US$33.6 million in 2019. The Vinci Group employs 5,200 people in Canada and earned $1.75 billion of revenue in the country in 2021.

OMERS Infrastructure, based in Toronto, Canada, is the infrastructure investment advisor and manager of OMERS, the benefit pension plan for municipal employees in the Canadian province of Ontario.

The box-girder tolled Confederation Bridge that carries the Trans-Canada Highway was built at a cost of US$1.03 billion.  

It is a multi-span balanced cantilever bridge with a post-tensioned concrete box girder structure. Most of the curved bridge is 40m above water with a 60m navigation span for ship traffic. The bridge rests on 62 piers, of which the 44 main piers are 250m apart.

The 11m-wide bridge carries only two lanes of traffic each 3.75m wide and has a 1.75m  emergency shoulder lane in each direction. The normal travelling speed is 80kph and it takes around 10-12 minutes to cross. Overtaking is not permitted.
 
In 2019, the government of Prince Edward Island said it would invest around US$170 million over four years to improve roads, including resurfacing 270km of highways.

Highway & Network Management

For more information on companies in this article

Related Content

  • Almost gone: Canada’s old Port Mann Bridge deconstructed
    August 14, 2015
    Three years ago a welder’s cut halved Canada’s old Port Mann Bridge. David Arminas reports from the banks of the Fraser River. By the time this issue of World Highways reaches you, one of Canada’s iconic steel arch bridges will be a shadow of its former self. It’s been a three-year demolition job since the first cut across the deck of the old Port Mann Bridge just outside the city of Vancouver on Canada’s Pacific coast. A new 10-lane 2.2km Port Mann Bridge opened in 2012 (see box). It runs parallel to the o
    Read More
  • Norwegian road construction costs jump 12.9%
    May 16, 2022
    Material costs rose 26.3% in the past year with concrete bridges especially more expensive.
    Read More
  • Graham Infrastructure wins Nisutlin Bridge
    July 13, 2022
    The new bridge in the Yukon will be the largest capital project in in the northern Canadian territory’s history.
    Read More
  • Storstrom Bridge to be Denmark’s third longest
    March 8, 2018
    Form and functionality come together in Denmark’s latest Storstrom Bridge design. David Arminas reports. An Italian joint venture recently won the construction contract for what will be one of Denmark’s longest bridges, the replacement 4km-long road and rail Storstrom Bridge. The Danish Road Directorate - Vejdirektoratet - awarded the work to a joint venture of Condotte and Grandi Lavori Fincosit along with bridge design consultant Seteco Ingegneria as a subcontractor. Estimated cost is around €550 milli
    Read More

Highlighted Content