South Fraser Perimeter Road
Tikehau Star Infra’s first investment involved a 24-year partnership agreement for the design, construction, financing, operation, maintenance, and rehabilitation of the South Fraser Perimeter Road, located 17 miles south of Vancouver, British Columbia. Construction was completed in June 2014, and Tikehau Star Infra successfully exited the investment in 2016.
The South Fraser Perimeter Road is a four-lane, 25-mile route along the south side of the Fraser River. The road stretches from Deltaport Way in southwest Delta to 176th Street in Surrey, with connections to Highways 1, 15, 17, 91, 99, and the new Golden Ears Bridge. Financial close for the project occurred in July 2010, with the Fraser Transportation Group (the Concessionaire) signing a concession agreement with the Province of British Columbia and the British Columbia Transportation Financing Authority for the finance, design, construction, operation, rehabilitation, and reinstatement of the project over a 24-year concession term.
The project reached substantial completion and the entire road was opened to traffic in December 2013. In recognition of the project’s success, the Canadian Council for Public-Private Partnerships awarded South Fraser Perimeter Road with its 2014 Silver Infrastructure Award, one of the council’s National Awards for Innovation and Excellence in Public-Private Partnerships.
