STOCK TITAN

Stantec selected to support Toronto’s Gardiner Expressway Rehabilitation Section 4

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags

Stantec (TSX, NYSE:STN) has been selected by the City of Toronto for a C$24 million contract to provide Owner's Engineer/Technical Advisory Services for the Gardiner Expressway Rehabilitation Project Section 4. The project involves replacing 2.2 kilometers of elevated roadway from Grand Magazine Street to York Street, including 91 bridge spans and 5 on- and off-ramps.

The rehabilitation strategy encompasses structural modifications, deck replacement, steel girder repairs, and substructure rehabilitation. The project is part of a larger rehabilitation plan for the expressway, which serves 140,000 vehicles daily. This contract builds upon Stantec's previous work on other sections of the Gardiner Expressway and follows the company's recent acquisition of Morrison Hershfield, which doubled its transportation staff in Ontario.

Stantec (TSX, NYSE:STN) è stata selezionata dalla Città di Toronto per un contratto del valore di C$24 milioni per fornire servizi di ingegneria e consulenza tecnica per il Progetto di Riabilitazione della Sezione 4 della Gardiner Expressway. Il progetto prevede la sostituzione di 2,2 chilometri di strada sopraelevata da Grand Magazine Street a York Street, inclusi 91 tratti di ponte e 5 rampe di accesso e uscita.

La strategia di riabilitazione comprende modifiche strutturali, sostituzione del piano stradale, riparazioni delle travi in acciaio e riabilitazione delle sottostrutture. Il progetto fa parte di un piano di riabilitazione più ampio per l'autostrada, che serve quotidianamente 140.000 veicoli. Questo contratto si basa sul lavoro precedente di Stantec su altre sezioni della Gardiner Expressway e segue l'acquisizione recente di Morrison Hershfield, che ha raddoppiato il personale nel settore dei trasporti in Ontario.

Stantec (TSX, NYSE:STN) ha sido seleccionada por la Ciudad de Toronto para un contrato de C$24 millones que proporciona servicios de ingeniero propietario y asesoría técnica para el Proyecto de Rehabilitación de la Sección 4 de la Gardiner Expressway. El proyecto involucra la sustitución de 2.2 kilómetros de carretera elevada desde Grand Magazine Street hasta York Street, que incluye 91 tramos de puente y 5 rampas de entrada y salida.

La estrategia de rehabilitación abarca modificaciones estructurales, reemplazo de la losa, reparaciones de vigas de acero y rehabilitación de subestructuras. El proyecto forma parte de un plan de rehabilitación más amplio para la autopista, que atiende a 140,000 vehículos diariamente. Este contrato se basa en el trabajo previo de Stantec en otras secciones de la Gardiner Expressway y sigue la reciente adquisición de Morrison Hershfield por parte de la empresa, que duplicó su personal de transporte en Ontario.

스탠텍 (TSX, NYSE:STN)이 토론토시에 의해 C$2400만 계약을 체결하여 가디너 익스프레스를 위한 소유자 엔지니어/기술 자문 서비스를 제공하게 되었습니다. 이 프로젝트는 그랜드 매거진 거리에서 요크 거리까지 2.2킬로미터의 고가 도로를 교체하는 것으로, 91개의 교량과 5개의 진입 및 출구 램프를 포함합니다.

재활 전략에는 구조적 수정, 데크 교체, 강철 거더 수리 및 기초 보수가 포함됩니다. 이 프로젝트는 하루에 14만 대의 차량이 이용하는 고속도로의 더 넓은 재활 계획의 일환으로 이루어집니다. 이 계약은 스탠텍이 가디너 익스프레스의 다른 구간에서 이전에 수행한 작업을 기반으로 하며, 최근 모리슨 허쉬필드를 인수하여 온타리오의 교통 업무 인력을 두 배로 늘린 회사의 행보를 따릅니다.

Stantec (TSX, NYSE:STN) a été sélectionnée par la Ville de Toronto pour un contrat de C$24 millions afin de fournir des services d'ingénieur propriétaire et de conseil technique pour le Projet de Réhabilitation de la Section 4 de la Gardiner Expressway. Le projet implique le remplacement de 2,2 kilomètres de route surélevée de Grand Magazine Street à York Street, incluant 91 travées de pont et 5 rampes d'entrée et de sortie.

La stratégie de réhabilitation comprend des modifications structurelles, le remplacement du tablier, des réparations de poutres en acier et la réhabilitation des sous-structures. Ce projet fait partie d'un plan de réhabilitation plus vaste pour l'autoroute, qui dessert 140 000 véhicules par jour. Ce contrat s'appuie sur le travail antérieur de Stantec sur d'autres sections de la Gardiner Expressway et suit l'acquisition récente de Morrison Hershfield, qui a doublé son personnel dans le secteur des transports en Ontario.

Stantec (TSX, NYSE:STN) wurde von der Stadt Toronto für einen Vertrag über C$24 Millionen ausgewählt, um Eigentümer-Ingenieur-/Technische Beratungsdienste für das Projekt zur Rehabilitation der Sektion 4 der Gardiner Expressway bereitzustellen. Das Projekt umfasst den Austausch von 2,2 Kilometern erhöhtem Straßenverlauf von der Grand Magazine Street bis zur York Street, einschließlich 91 Brückenspannen und 5 Ein- und Ausfahrten.

Die Rehabilitationsstrategie umfasst strukturelle Änderungen, den Austausch von Fahrbahndecken, Reparaturen von Stahlträgern und die Rehabilitation der Unterbauten. Das Projekt ist Teil eines umfassenderen Rehabilitationsplans für die Autobahn, die täglich 140.000 Fahrzeuge bedient. Dieser Vertrag baut auf Stantecs früherer Arbeit an anderen Abschnitten der Gardiner Expressway auf und folgt der kürzlichen Übernahme von Morrison Hershfield, wodurch das Transportpersonal in Ontario verdoppelt wurde.

Positive
  • Secured C$24 million contract for Gardiner Expressway rehabilitation
  • Recent Morrison Hershfield acquisition doubled transportation staff in Ontario
  • Continues long-term relationship with City of Toronto since 1979
  • Expands presence in major infrastructure projects in Greater Toronto Area
Negative
  • None.

Insights

The C$24 million contract win for Stantec's Gardiner Expressway project represents a strategic victory that builds upon their established presence in Toronto's infrastructure sector. This project, combined with Stantec's recent Morrison Hershfield acquisition, significantly strengthens their market position in Ontario's transportation infrastructure segment. The contract's value, while modest relative to Stantec's size, is notable for its potential to generate steady revenue streams and establish deeper relationships for future infrastructure projects.

The timing aligns well with increased infrastructure spending trends in major urban centers. The project's complexity and high-profile nature could serve as a valuable reference for securing similar contracts in other metropolitan areas. The long-term nature of the rehabilitation project provides revenue visibility and operational stability, though margins may face pressure due to the project's technical complexity and urban location constraints.

The technical scope of rehabilitating 2.2 kilometers of elevated roadway, including 91 bridge spans and 5 ramps, represents a significant engineering challenge. The project's location in Toronto's core adds layers of complexity due to traffic management requirements and urban constraints. The comprehensive nature of work - from structural modifications to deck replacement and substructure rehabilitation - showcases Stantec's full-service capabilities.

The Morrison Hershfield acquisition proves particularly strategic here, as it doubled Stantec's transportation staff in Ontario. This enhanced capacity will be important for managing a project of this scale and complexity. The long-term relationship with Toronto since 1979 and previous work on other Gardiner sections provides valuable institutional knowledge that should help mitigate execution risks and optimize project delivery.

C$24 million contract builds on Stantec and recently acquired Morrison Hershfield’s long-standing relationships with the City of Toronto

EDMONTON, Alberta and NEW YORK and TORONTO, Dec. 12, 2024 (GLOBE NEWSWIRE) -- TSX, NYSE:STN

Stantec, a global leader in sustainable design and engineering, has been selected by the City of Toronto for Owner’s Engineer/Technical Advisory Services (OETA) for the delivery of the F.G. Gardiner Expressway Rehabilitation Project Section 4. Stantec will provide multidisciplinary engineering consulting services through planning and preliminary design, procurement, design-build, and post construction. Early in 2024, Stantec announced its acquisition of Morrison Hershfield, which doubled its transportation staff in Ontario and strengthened its presence in the Greater Toronto Area.

Complex infrastructure rehabilitation in the heart of Toronto
The Gardiner Expressway is one of Canada’s busiest corridors, with 140,000 vehicles traveling it daily. Age, heavy use, weather, and salt have necessitated a multiyear rehabilitation to extend its life. The expressway runs along established neighborhoods and the city’s downtown core, making it an extremely complex project.

“The Gardiner Expressway is a critical corridor for the city,” said Susan Walter, executive vice president of Infrastructure at Stantec. “We have been working with the City of Toronto’s on its multiyear Strategic Rehabilitation Plan to support the safe operation and increase the life of this 60-year-old expressway since 2019.”

Section 4 of the rehabilitation will replace 2.2 kilometers of elevated roadway from Grand Magazine Street to York Street. It is in the heart of the City of Toronto and includes 91 bridge spans and 5 on- and off-ramps. The rehabilitation strategy will include structural modifications, deck replacement, structural steel girder repairs or replacement, and substructure rehabilitation and associated works. Stantec’s contract on Section 4 is valued at C$24 million.

Longstanding relationship with the City of Toronto
Stantec has previously completed significant work for the City of Toronto on the Gardiner Expressway Rehabilitation Plan, including of the ongoing Section 2 deck replacement from Dufferin Street to Strachan Avenue, contract administration for Section 1 from Jarvis Street to Cherry Street, and preliminary design for Section 5 from Cherry Street to the Don Valley Parkway.

“Since 1979, we have completed extensive work for the City of Toronto on the Gardiner Expressway,” said Jim Weir, transportation regional growth leader for Canada at Stantec. “We will be working closely with the City to safely upgrade Section 4 from the earliest stages until construction completion.”

Stantec has helped deliver several major transportation projects around the Greater Toronto Area. The projects include the Toronto Subway Program, Ontario Line, Hazel McCallion Line, Waterfront East Light Rail Transit Extension, Highway 401/409 Rail Tunnel, and the rehabilitation and reconstruction of 63 bridges across the city.

Learn more about Transportation at Stantec.

About Stantec

Stantec empowers clients, people, and communities to rise to the world’s greatest challenges at a time when the world faces more unprecedented concerns than ever before.

We are a global leader in sustainable architecture, engineering, and environmental consulting. ​Our professionals deliver the expertise, technology, and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more. ​

Today’s communities transcend geographic borders. At Stantec, community means everyone with an interest in the work that we do—from our project teams and industry colleagues to our clients and the people our work impacts. The diverse perspectives of our partners and interested parties drive us to think beyond what’s previously been done on critical issues like climate change, digital transformation, and future-proofing our cities and infrastructure.  ​

We are designers, engineers, scientists, project managers, and strategic advisors. We innovate at the intersection of community, creativity, and client relationships to advance communities everywhere, so that together we can redefine what’s possible.​

Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.

Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements regarding the initiatives and projects described above. Forward-looking statements also include any other statements that do not refer to historical facts. By their nature, forward-looking statements are based on assumptions and subject to inherent risks and uncertainties. There is a risk that the initiatives and projects described above may be delayed, cancelled, suspended or terminated. This could cause future results to differ materially from the forward-looking statements made in this news release. Except as may be required by law, Stantec undertakes no obligation to publicly update or revise any forward-looking statements. Forward-looking statements are provided herein for the purpose of giving information about the initiatives and projects referred to above and their expected impact. Readers are cautioned that such information may not be appropriate for other purposes.

Media Contact
Colin Nekolaichuk
Stantec Media Relations
Ph: (437) 225-6384
colin.nekolaichuk@stantec.com           
Investor Contact
Jess Nieukerk
Stantec Investor Relations
Ph: (403) 569-5389
ir@stantec.com                  

FAQ

What is the value of Stantec's (STN) Gardiner Expressway Section 4 contract?

Stantec's contract for Section 4 of the Gardiner Expressway rehabilitation project is valued at C$24 million.

What is the scope of Stantec's (STN) work on Gardiner Expressway Section 4?

Stantec will provide multidisciplinary engineering consulting services through planning, preliminary design, procurement, design-build, and post construction for 2.2 kilometers of elevated roadway, including 91 bridge spans and 5 on- and off-ramps.

How many vehicles use the Gardiner Expressway daily where Stantec (STN) is working?

The Gardiner Expressway serves approximately 140,000 vehicles daily.

What other Gardiner Expressway sections has Stantec (STN) worked on?

Stantec has worked on Section 1 (Jarvis to Cherry Street), Section 2 (Dufferin to Strachan Avenue), and preliminary design for Section 5 (Cherry Street to Don Valley Parkway).

Stantec, Inc.

NYSE:STN

STN Rankings

STN Latest News

STN Stock Data

9.10B
113.61M
0.27%
73.31%
0.92%
Engineering & Construction
Industrials
Link
United States of America
Edmonton