A project of this complexity
Cadence was carefully selected to not only co-design and build, but also to finance, operate, and maintain the project. The selection of the consortium was based on its ability to deliver the best project outcome. Top firms from around the world participated and submitted proposals.
The collaborative approach is intended to promote innovation, drive better service for passengers, reduce risk and improve risk management, and ultimately achieve better value for Canadians.
Key Procurement Milestones
On March 10, 2022, the Government of Canada released the Request for Expressions of Interest (RFEOI) , and over 50 industry participants expressed interest and provided feedback. The Government used the feedback received to refine the project requirements, the deal structure, and the anticipated procurement and co-development process and timelines.
On October 31, 2022, the Government issued the RFEOI Update, summarizing the key themes stemming from the RFEOI process, and providing additional information, clarifications and adjustments to elements of the procurement process for the Alto project.
On February 17, 2023, the Government of Canada launched a Request for Qualifications (RFQ). The RFQ period closed on April 24, 2023. On July 20, 2023, the Government of Canada qualified three bidding teams to respond to the Request for Proposals.
On October 13, 2023, the Government of Canada issued a Request for Proposals (RFP). Through the RFP, the Government of Canada selected Cadence, a private-sector partner to collaborate with Alto to optimize the project for a final investment decision by the Government of Canada.
The co-development approach will involve a collaborative model focused on exceeding project outcomes through a long-term integrated approach to operations, asset and risk management. Co-development allows the project to be designed and developed in parallel to the impact assessment process, improving visibility on key metrics and outcomes through direct collaboration.
