The total cost of the Design Phase is estimated at $105 million required to achieve financial close and commence construction. This is phased with a final investment decision made during this process.
This is a typical development, design and permitting budget. For context, Calgary Green Line LRT has invested nearly $1,000 million (10 times as much) and has not yet awarded its main construction contracts.
The first $30 million cost is to be paid equally by the proponents, the Canada Infrastructure Bank (CIB) and the Government of Alberta, as required by the CIB. The first $30 million will determine the project feasibility and will be done in two stages to minimize risk in making a final investment decision. The remaining $75 million cost of the Design Phase is the responsibility of the proponents and provides sufficient detailed design to complete permitting and award construction contracts.