TransEd Partners, a consortium between EllisDon, Bechtel, Bombardier and Fengate Capital Management, has achieved financial closure on the $1.8bn Valley Line LRT Stage 1 tram project in Edmonton, Canada.

The consortium was selected by the City of Edmonton for the public-private partnership project that includes a five-year design-build stage and a 30-year operation and maintenance period.

The project will involve construction of a 27km urban route with three stations and 25 new stops. The new route will run southeast to west from Mill Woods to Lewis Farms, crossing through Edmonton's downtown core, and serving around 100,000 passengers daily.

The first phase will cover 13.1km, including 11 stops with an additional two-storey station between Mill Woods and 102 Street.

TransEd will be responsible for the design, construction, financing, operation, maintenance and supply of vehicles for the project.