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(Alliance News) - BBGI Global Infrastructure SA on Monday said its equity investment in Highway 104 in Nova Scotia, Canada has achieved "substantial completion".
The Luxembourg-based infrastructure investor's portfolio is now 100% operational.
In March 2020, BBGI told investors that it had been named as the preferred bidder for the availability-style motorway project in Canada. This new section of motorway now completed runs between Sutherlands River and Antigonish in Nova Scotia, a province in eastern Canada.
The concession will run until 2043 and availability payments will be received from the Nova Scotia government. BBGI's equity interest is 50%.
"We are proud to be involved in the development of this important infrastructure project and crucial travel corridor, which has now achieved completion. This project significantly improves the efficiency and safety of travel and the flow of goods and services, and communities are better connected within Nova Scotia, whilst creating jobs for local workers," said Co-Chief Executive Officers Duncan Ball and Frank Schramm.
BBGI Global Infrastructure shares were trading 0.4% higher at 140.60 pence each in London on Monday morning.
By Holly Beveridge, Alliance News reporter
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